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

Today, NMDC Steel Ltd’s stock surged to Rs 66.45, with a remarkable trading volume of 71,713,339 shares. This exceeded the previous close of Rs 60.75 by 8.07%, indicating a strong uptrend. The stock also broke through its previous high of Rs 65.65, reaching closer to its 52-week high of Rs 73.25. Moreover, the Relative Strength Index (RSI) stands at 66.55, suggesting a continuation of the uptrend. Combined with price volume breakout, volume spike, base breakout, and a small flag breakout, the stock exhibits strong bullish momentum.

IDFC First Bank Ltd

IDFC First Bank Ltd witnessed a surge in both price and volume today, with the stock currently trading at Rs 84.40 and a trading volume of 59,988,057 shares. This surpassed the previous close of Rs 82.15 by 2.74%. The stock also crossed its 50-day Exponential Moving Average (EMA) and trendline, indicating a strong move. With an RSI of 65.45, the stock displays robust bullish sentiment alongside price volume breakout and volume spike.

Lloyds Engineering Works Ltd

Lloyds Engineering Works Ltd saw its stock price rise to Rs 58.50 amidst a trading volume of 7,780,759 shares, marking a significant increase from the previous close of Rs 55.10. Although not yet reaching its 52-week high of Rs 62.90, the stock exhibited a price volume breakout and volume spike, suggesting potential bullish momentum. Additionally, the RSI at 61.28 indicates a positive sentiment. The stock formed an inside bar, signaling potential consolidation before a potential breakout.

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.