Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Monday’s trading sessions, indicating strong bullish action. Here’s an in-depth look.

1. Moksh Ornaments Ltd
   

   
   Moksh Ornaments Ltd had a significant uptrend today, bouncing back from its 50-day Exponential Moving Average (EMA) quite some time ago. It broke its all-time high, indicating strong bullish momentum in the market. Additionally, it formed a double-bottom neckline breakout pattern, further supporting the bullish sentiment. The Relative Strength Index (RSI) is at 77.69, signalling overbought conditions but still in the bullish region. There was a notable price volume breakout accompanied by a volume spike, suggesting strong buying interest. Today, the stock opened at Rs 22.9, reached a high of Rs 25.55, a low of Rs 21.75, and closed at Rs 25.55, marking a significant 19.95% increase from the previous close.

2. Patel Engineering Ltd
   

   
   Patel Engineering Ltd experienced a bullish movement today, with a price volume breakout and a strong gap-up move. It also showed resilience by respecting its 50-day EMA. The stock opened at Rs 71.1, reached a high of Rs 74.5, a low of Rs 70.5, and closed at Rs 73.75, reflecting a 4.24% increase from the previous close. The RSI stands at 61.87, indicating bullish momentum but not yet overbought. A notable volume spike accompanied the price movement, suggesting increasing investor interest in the stock.

3. Sigachi Industries Ltd
   

   
   Sigachi Industries Ltd displayed bullish behaviour today, with a price volume breakout and a breakout from its 52-week range. It also bounced back from its 50-day EMA, indicating strong support levels. The stock opened at Rs 87.6, reached a high of Rs 91.45, a low of Rs 87.3, and closed at Rs 90.3, marking a 3.61% increase from the previous close. The RSI is at 68.96, showing bullish momentum in the stock. A significant volume spike accompanied the price breakout, suggesting growing investor interest and potential further upside.

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.