Top 3 stocks trading below Rs 100

These three equities’ volume gained significantly during Wednesday’s trading sessions, indicating potential bullish action.

Here’s an in-depth look.

NMDC Steel Ltd 

The stock of NMDC Ltd saw a significant increase in price and volume, indicating consolidation and breakout soon scenario. This NR7 activity is indicating squeezed price action and lesser volume on red days further supports the bounce back from a support level at (Rs 51.75). The Relative Strength Index (RSI) currently stands at 39.16, suggesting the stock has low strength in price. However, with a 0.28% increase from the previous close, the stock might encounter resistance near Rs 64, the stock price is closing flat since last 3 days, indicating possibility of breakout in next session can’t be ignored.

BPL Ltd

BPL Ltd, it experienced a notable price and volume jump, signifying increased trading activity. The stock seems to have found support around Rs 79.60, bouncing from this level. With the RSI at 49.86, the stock appears to be neutral, but the RSI has risen sharply with price. Despite a 14.67% increase from the previous close, it might approach its prior lower high of Rs 110, while the chart indicates that the price previously traded in a range of Rs 80 to Rs 100.

ISMT Ltd

Lastly, ISMT Ltd took support at the previous breakout level, yet it displayed a sharp pullback, suggesting potential bullish momentum. The stock witnessed price volume activity accompanied by volume more than average, indicating strong buying interest. The RSI is at 46.06, reflecting a neutral sentiment. The stock respected its support level, and the chances are high that it may bounce from the current level. Waiting for a volume spike may be a good choice for traders to ride the next coming bull run in this particular stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.