Top 3 breakout stocks trading below Rs 100

These three equities gained significantly in today’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

JM Financial Ltd

JM Financials’ stock price bounced from the support level at Rs 76.90, showing a strong move likely to face resistance after filling the gap. There’s a price volume breakout with a notable volume spike, indicating increased market activity. The Relative Strength Index (RSI) stands at 32.38, suggesting the stock is currently oversold. However, it’s important to note that it plummeted by 18.75% yesterday due to regulatory lapses, which might influence investor sentiment.

The stock is currently trading at Rs 87.7, up by 2.57% from the previous close of Rs 85.5. With a 52-week high of Rs 114.85 and a 52-week low of Rs 57.85, JM Financial Ltd’s market cap stands at Rs 8,378.13 crore.

Radhika Jeweltech Ltd

Radhika Jeweltech stock price experienced a breakout with increased volume, indicating strong market interest. It bounced from the support level and 50-day Exponential Moving Average (EMA), with resistance observed at the 52-week high. The RSI at 54.83 suggests the stock is currently in a neutral state. There was a strong gap-up opening after the red candle surpassed the prior day’s high, signalling potential bullish momentum.

The stock is currently trading at Rs 67.05, up by 8.67% from the previous close of Rs 61.7. With a 52-week high of Rs 76.5 and a 52-week low of Rs 27.82, Radhika Jeweltech Ltd’s market cap stands at Rs 788.78 crore.

Lexus Granito (India) Ltd

Lexus Granito’s stock experienced a price volume breakout accompanied by a notable volume spike, indicating increased market participation. It hit the upper circuit, suggesting strong buying interest. The RSI at 61.81 suggests the stock is currently in a slightly overbought territory. There might be resistance observed at Rs 54. The stock is showing signs of picking up again after a period of consolidation.

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.