Top 3 stocks trading below Rs 100

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

Here’s an in-depth look.

Indian Overseas Bank

Today’s trading activity for Indian Overseas Bank showed notable bullish behavior with a substantial volume of 41,297,357 shares traded. The stock peaked at Rs 67.45 and is currently trading at Rs 66.7, up by 5.45% from its previous close of Rs 63.25. This upward movement is supported by a combination of technical signals including a price volume breakout and a significant volume spike. Additionally, the stock has bounced from its 50-day EMA and holds an RSI of 60.16, signaling strong momentum. Currently positioned just shy of its 52-week high of Rs 83.75, Indian Overseas Bank appears well-set for potential further gains, keeping investors on the lookout for a 52-week high breakout.

Bank of Maharashtra

Bank of Maharashtra Ltd experienced increased investor interest today, with nearly 39,432,553 shares changing hands. The stock saw a high of Rs 66 and is currently trading at Rs 65.2, reflecting an increase of 1.88% from the previous session’s close of Rs 64. The stock’s movement today includes a price volume breakout alongside a noticeable volume spike. This was complemented by a pullback from its 50-day moving average and an RSI of 59.30, pointing towards upward momentum. As the stock approaches its 52-week high of Rs 69.45, the ongoing trend suggests a possible test of these levels soon, hinting at continued investor interest.

Shipping Corp. of India Land & Assets Ltd

Today, Shipping Corp. of India Land & Assets Ltd has shown a significant increase in its share price, closing at Rs 72.2, represents a sharp 9.98% increase from its previous close of Rs 65.65. The trading volume was notably high at 9,553,306, highlighting a robust trading day. This marks a new 52-week high, this is a recently launched IPO. The strong trading momentum and volume indicate investor enthusiasm, supported by a Relative Strength Index (RSI) of 75.13, suggesting that the stock may be overbought but continues to draw interest due to its positive momentum and market perception.

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.