Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Wednesday’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

One Global Service Provider Ltd

One Global Service Provider exhibits a compelling technical setup. The stock has demonstrated an indication of Price Volume Breakout along with bounce back from support level on the weekly timeframe, signifying a strong bullish sentiment. Furthermore, it is currently trading above all key moving averages, reinforcing the positive outlook. The presence of a Bullish long-range candle adds to the bullish signals, indicating a potential change in the previous sideways trend. The Relative Strength Index (RSI) at 57.99 implies the decision point for the trend, suggesting the stock might be in reverse in the strong uptrend. The observed volume spike and successful bounce back from support confirmation to the bullish momentum for the longer term.

Mahanagar Telephone Nigam Ltd

Mahanagar Telephone Nigam presents an intriguing technical picture. The stock has witnessed a Price surge along with a bounce back from a crucial level, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The prior breakout of consolidation further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 51.56 indicates a healthy uptrend without reaching an overbought condition. A notable volume spike in the next session may add confirmation to the trend, solidifying the technical strength and potential for further upside.

Oswal Greentech Ltd

Oswal Greentech portrays a promising technical scenario. The Price bounce back, accompanied by 50-day EMA, suggests a renewed bullish momentum. The price breakout from the prior base structure may reinforce the stock’s strength again. The RSI at 54.72 indicates a neutral strength to start a new fresh trend with favourable conditions. The presence of today’s volume doesn’t add any bullish signal but a pullback on the day base suggests a short uptrend. At these levels, the stock already traded with good volumes and it may further trigger stock price fall below current day low. Overall, the stock appears well-positioned for little upside movement with possible sudden corrective actions.

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.