Top 3 stocks trading below Rs 100

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

Here’s an in-depth look.

Sadbhav Engineering Ltd 

The stock of Sadbhav Engineering has witnessed a significant increase in both price and volume, indicating heightened trading activity. The bounce back on the weekly chart is evident, with the stock price showing a steady rise accompanied by higher volume on up days. This further reinforces the bounce back from the support level, with resistance levels placed appropriately.

The Relative Strength Index (RSI) currently stands at 69.38, suggesting strength in the stock’s price. However, with a 10% increase from the previous close, the stock might encounter resistance near Rs 30. Additionally, the stock has closed in the green for the past three trading days, with today’s spike indicating the possibility of consolidation in upcoming sessions. This potential consolidation cannot be ignored.

Paisalo Digital Ltd

Paisalo Digital experienced a notable price and volume jump, signifying increased trading activity. The stock seems to have broken out of range and crossed the 50-day EMA. With the RSI at 61.06, the stock appears to be bullish, trading at the perfect level to start a new uptrend. Despite a 9.94% increase from the previous close, it might take a quick thrust to approach its 52-week high as it can act as a resistance for the stock price, while the chart indicates that the price is still trading above the 50-day EMA shows the stock is still in bullish sentiments.

Spacenet Enterprise India Ltd

Lastly, Spacenet Enterprise India took support at a level of Rs 25, it displayed a consolidation and a breakout with a long jump in price, suggesting potential bullish momentum. The stock witnessed price volume activity accompanied by volume more than average, indicating strong buying interest. The RSI is at 57.57 reflecting a neutral sentiment. The stock respected its support, and the chances are high that it may sustain over 50-day EMA. Waiting for a volume spike may be a good choice for traders to ride the next coming bull run in this particular stock.

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.