Top 3 stocks trading below Rs 100

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

Yes Bank Ltd experienced a trading day with significant volume, clocking in at 253,784,372 shares traded. The stock hit a high of Rs 26.45 before settling at Rs 26.05, slightly up from its previous close of Rs 25.95. This represents a modest gain of 0.39%. The price action and heavy trading volume suggest a price volume breakout, indicating strong buying interest. Additionally, the stock has shown resilience by pulling back from its support level and breaking past resistance, with the Relative Strength Index (RSI) standing at 62.88, signaling bullish momentum. Investors should watch for potential continuation of the uptrend as the stock shows readiness to move higher.

Central Bank of India Ltd

Central Bank of India Ltd showed modest movement, reaching a high of Rs 67 during the day and closing at Rs 65.85, slightly above its previous close of Rs 65.8, marking an increase of 0.08%. The trading volume was notable at 19,156,460 shares. The day’s price and volume dynamics suggest a breakout, with the stock having bounced off the 50-day Exponential Moving Average (EMA), indicative of potential underlying strength. The RSI of 58.86 further supports this view. The stock appears to be positioned well for an upward trend if it successfully sustains the breakout, offering a promising outlook for bullish investors.

South Indian Bank Ltd

South Indian Bank Ltd traded actively with a volume of 55,286,069 shares but ended the day unchanged at Rs 30.4, which was also the opening price. The stock reached a peak of Rs 30.8 during the session. The activity indicates a price volume breakout with a significant volume spike, suggesting heightened investor interest. The technical setup shows a breakout from a range and base formation, with an RSI of 59.52, hinting at an upcoming bullish move. Investors might consider this stock as it gears up for potentially higher levels, supported by strong trading momentum and favorable technical indicators.

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.