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Top 3 stocks trading below Rs 100

19 April 20244 mins read by Angel One
Yes Bank K M Sugar Mills, and Morepen Laboratories trading below Rs 100 have shown price volume activity to trigger the next move on their respective charts.
Top 3 stocks trading below Rs 100
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

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

Here’s an in-depth look.

Yes Bank Ltd

The stock of Yes Bank Ltd is currently trading at Rs 23.9, with a slight decrease from the previous close. Despite this, there’s no significant percentage change. The traded volume is quite high at 227,487,947 shares. The stock is showing signs of consolidation, bouncing back from its 200-day EMA with a minor support level. Today, it formed a small pin bar, indicating potential reversal. However, it’s important to note that the RSI is at 47.17, suggesting a neutral sentiment among traders.

K M Sugar Mills Ltd

K M Sugar Mills Ltd is currently trading at Rs 42.3 after a significant price increase to Rs 42.85, indicating a strong uptrend. The traded volume is considerable at 27,243,668 shares. The stock has shown a breakout in both price and volume, with the RSI soaring to 77.47, signifying strong momentum. Today’s movement indicates a breakout from its 52-week range, positioning it well for further gains.

Morepen Laboratories Ltd

Currently trading at Rs 49.4, Morepen Laboratories Ltd experienced a price increase from Rs 49.75, showing a strong move. The traded volume stands at 8,190,238 shares. The stock has exhibited a price-volume breakout and bounced back from its 200-day EMA. However, it’s approaching a resistance level. The RSI at 59.86 suggests a bullish sentiment but also hints at potential overbought conditions.

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.

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