Trending stock under Rs 100: L and T Financial Holdings

In one month, the stock has surged about 20 per cent thereby, outperforming the broader market and its peers.

The stock of L&TFH is quite bullish and surged over 2 per cent during Friday’s trading session. With this, it has given a breakout from its downward-sloping trendline and registered heavy volume. It has hit the day’s high at Rs 92.20 and formed a strong bullish candle on the technical chart. In the last two days, the stock has gained about 14 per cent and looks strong. During this period, the volumes are found to be greater than the 10-day, 30-day, and 50-day average volume, which justify strong buying interest in the stock. It trades above its 20-DMA by nearly 8 per cent; thus, indicating strong momentum.   

The 14-period daily RSI (67.91) is in the bullish territory and points northwards. Moreover, the MACD has given a bullish crossover. Interestingly, the OBV has signalled a significant rise in its strength from the volume's perspective. Also, the Elder Impulse System and KST maintain a buy signal. The ADX (36.51) indicates strong trend strength in the stock and is likely to trade maintain its bullishness.  

In one month, the stock has surged about 20 per cent thereby, outperforming the broader market and its peers. The short-term outlook is bullish and is expected to trade higher in the coming days. Considering its breakout, the stock is expected to test the level of Rs 96, followed by Rs 100 in the short to medium term. Traders can expect decent gains from this stock as indicated by technical analysis.