Top 3 stocks trading below Rs 100

During Friday’s trading sessions, these three equities gained significantly with price and volume activity, indicating potential bullish action.

Here’s an in-depth look.

NHPC Ltd

NHPC Ltd showed moderate trading activity with a slight increase in its stock price, closing at Rs 94.35, up by 0.75% from the previous close of Rs 93.65. The stock traded a high volume of 99,647,756 shares, signaling a price volume breakout and a volume spike, which indicates strong investor interest. Currently trading near its 52-week high of Rs 105.25, NHPC Ltd has delivered multibagger returns of 112.60%, significantly boosting its market cap to Rs 94,965.31 crore. Technical indicators like the RSI at 52.33 and the stock’s bounce from the 50-day EMA suggest that the momentum could continue, especially after forming a doji candle which often signifies a potential reversal or indecision in the market trend.

IDFC First Bank Ltd

IDFC First Bank Ltd experienced a positive movement, with its share price increasing to Rs 76.75, reflecting a 1.19% gain from the previous close of Rs 75.85. The bank had a trading volume of 45,449,531 shares, showing a price volume breakout and an uptick in trading activity. Currently, the stock is trading close to its support levels with an RSI of 35.32, which could indicate a potential upward movement if it maintains its momentum. Over the past year, the stock has gained 19.05%, contributing to a market cap of Rs 54,172.73 crore.

IFCI Ltd

IFCI Ltd’s shares surged to Rs 52.20, a significant 3.26% rise from its previous close of Rs 50.55. The company saw a high trading volume of 25,385,387 shares, marking a notable price volume breakout and volume spike. Currently, the stock has achieved multibagger returns of 348.07% and is considered a strong breakout candidate as it trades in a narrow range with an RSI of 61.40. The stock’s performance and its proximity to its 52-week high of Rs 71.8 enhance its profile as a potential investment, especially with a market cap of Rs 13,666.43 crore.

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.