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.

IDBI Bank Ltd

Today, IDBI Bank witnessed significant trading activity with 31,317,368 shares exchanged. The stock is currently trading at Rs 91.7, having opened at a high of Rs 92.7. This price marks a substantial increase from yesterday’s close at Rs 88.6, translating to a 3.50% gain. The volume spike alongside the price volume breakout indicates strong buying interest, possibly indicating a move toward its 52-week high of Rs 98.7 if it can successfully break through the nearby supply zone. The Relative Strength Index (RSI) at 63.83 supports this bullish outlook, suggesting the stock has further room to rally before being considered overbought.

UCO Bank

UCO Bank is currently trading at Rs 58.6 after reaching today’s high of Rs 59.15, showing a promising increase from the previous close of Rs 57, a growth of 2.81%. The stock’s movement is backed by a significant trade volume of 28,267,184 shares. Technical indicators like a price volume breakout and a notable volume spike suggest a potential upward trajectory. The RSI at 61.52 indicates a strengthening momentum as the stock has bounced from its 50-day EMA, positioning it for a possible continuation of the trend if it overcomes minor resistance levels ahead.

Jain Irrigation Systems Ltd

Jain Irrigation Systems Ltd shows a robust performance today, trading at Rs 63.4 after reaching a high of Rs 64.45, up significantly by 6.91% from Rs 59.3 at the previous close. With a traded volume of 15,900,696 shares, the stock demonstrates a strong price volume breakout and volume spike. Today’s movement, supported by an RSI of 66.01, signals a bullish outlook as the stock has rebounded from its 50-day EMA. The trendline breakout further confirms the positive sentiment, suggesting that the stock is gearing up for a bullish move, potentially targeting its 52-week high of Rs 73.45 if the momentum continues.

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.