Top 3 pull-back stocks trading below Rs 100

These 3 stocks have shown substantial gains in Thursday’s trading sessions, indicating strong bullish activity.

Here’s an in-depth look.

Mahanagar Telephone Nigam Ltd

Mahanagar Telephone Nigam’s stock has given a volume price breakout and is bouncing back from its trendline support. It is currently trading at Rs 32.40 and has seen a spurt in volume in today’s sessions. The stock price has witnessed a bounce back from its 50-day EMA as well, supported by a relative strength index turning upside at a level of 55, which is a neutral level of the RSI. The next resistance is at its 52-week high, as it can be a potential target for the current rebound. This stock has generated 62.16% of maximum returns for its investors over the 6 months.

Mahanagar Telephone Nigam Ltd engages in the provision of telecommunications services.

IRB Infrastructure Developers Ltd   

Shares of IRB Infrastructure Developers have given a price volume breakout by bouncing back from its trendline on Wednesday. The relative strength index of this chart is trading at the 61 level. This is a promising sign that the stock is still holding strong. According to its volume spurt and candle formation, traders are showing interest in this particular stock. The stock has seen a surge in volume more than its average today. The price also formed a piercing-line candlestick pattern. IRB Infrastructures’ stock has surged more than 6% in a day and generated 54.56% returns in 6 months.

IRB Infrastructure Developers Ltd is engaged in the construction and maintenance of roads and highways.

NBCC Ltd

NBCC’s stock has bounced from its important level to trade higher in the coming time. The stock price has bounced from the previous breakout resistance as it is acting like support now. The stock has witnessed a spike in volume at this level, which made the bulls active as the price retested the same level today. The stock price is showing a strong upmove with normal buying, and the Relative Strength Index has turned upwards and trading at the level of 55, which is in the neutral zone. The stock has given 110.90% returns in a year.

NBCC (India) Ltd is involved in real estate development, project management and consultancy services.

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.