Top 3 stocks trading below Rs 100

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

Here’s an in-depth look.

South Indian Bank Ltd

The stock of South Indian Bank Ltd is currently trading at Rs 29.1, with a traded volume of 4,59,13,167 shares. Today, it showed a 1.93% increase from the previous close, standing at Rs 29.55. The stock is approaching its 52-week high of Rs 36.89, showing potential for a breakout. Additionally, it’s trading near its 50-day Exponential Moving Average (EMA), indicating bullish momentum. The Relative Strength Index (RSI) is at 48.72, suggesting a balanced market sentiment. Considering the price volume breakout and volume spike, along with its proximity to the 50-day EMA, the stock is likely to experience a breakout soon.

IRB Infrastructure Developers Ltd

Currently trading at Rs 70.4, with a traded volume of 4,17,70,958 shares, Irb Infrastructure Developers Ltd displayed a 0.57% increase from its previous close, standing at Rs 72. The stock recently broke its 52-week high, indicating strong bullish momentum. Moreover, it bounced from a significant support level, affirming its upward trajectory. The RSI at 68.94 suggests a bullish sentiment. The price volume breakout and volume spike further support the bullish outlook. With recent strong moves and a supportive technical setup, the stock is poised for continued upward movement.

Bajaj Hindusthan Sugar Ltd

At Rs 33.45, with a traded volume of 2,17,59,635 shares, Bajaj Hindusthan Sugar Ltd experienced a 3.24% increase from its previous close. Today, it formed a pin bar while taking support from the 50-day EMA, indicating potential bullish reversal. The RSI at 55.94 suggests a neutral to bullish sentiment. Earlier, the stock bounced from trendline support, further confirming its bullish bias. The price volume breakout and volume spike underscore the growing bullish momentum. Considering these factors, along with the supportive technical patterns, the stock is likely to continue its upward trajectory.

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.