50% of defence stocks in oversold territory; Is it a good time to accumulate HAL, GRSE, BEL?

The Nifty India Defence Index has seen its RSI hit the lowest level since its inception, following a sharp 15 per cent correction from the record high reached in June. As a result of this decline, 50 per cent of the stocks within the index have now entered oversold territory. Could this signal a potential turnaround for these stocks?