Top 3 stocks trading below Rs 100

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

Here’s an in-depth look.

Suzlon Energy Ltd

Suzlon Energy Ltd experienced a significant trading day, as the stock price reached a high of Rs 41.3, with a traded volume of 62,114,928 shares. It is currently trading at Rs 41, marking a 4.19% increase from the previous close of Rs 39.35. This surge is particularly notable as it comes alongside a price volume breakout and a volume spike, indicating strong buying interest. Additionally, the stock has shown resilience by bouncing back from earlier support levels and is now trading close to the 50-day EMA. The RSI, at 49.51, suggests that the stock is neither overbought nor oversold, supporting a balanced momentum.

Bank of Maharashtra

Bank of Maharashtra Ltd showed a robust performance in the trading session, reaching a high of Rs 64.7 with a traded volume of 25,835,876 shares. Currently trading at Rs 64.45, the stock has seen a 4.63% rise from its previous closing price of Rs 61.6. This increase aligns with a price volume breakout and a notable volume spike, signaling strong investor enthusiasm. The stock also displayed remarkable momentum over the last two days and has successfully bounced back from the 50-day EMA. Currently, with an RSI of 57.36, the stock indicates a healthy market condition without being overextended.

Hindustan Motors Ltd

Hindustan Motors Ltd saw an extraordinary rally, with its stock price soaring to Rs 28.4, matching both the day’s high and its 52-week high, on a trading volume of 20,498,216 shares. Currently trading at Rs 28.4, the stock has surged by 19.83% from the previous close of Rs 23.7. Today’s strong performance accompanied a price volume breakout, suggesting significant buying pressure. The stock’s movement has been very bullish, particularly as it trades near a resistance level. With an RSI of 76.26, the stock may seem overbought, but the current momentum and trading near the 50-day EMA suggest there might be more room for upward movement.

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.