Top 3 breakout stocks trading below Rs 100

These 3 stocks have shown substantial gains in Monday’s trading sessions, indicating strong bullish activity.

Here’s an in-depth look.

Energy Development Co Ltd

Energy Development Corporation’s stock has given a volume price breakout on the day chart by taking 50-day EMA support last week. The stock is currently trading at Rs 26.15 and has seen a spurt in volume in today’s sessions. The stock price has witnessed a 52-week breakout, supported by a strong relative strength index trading at a level of 85.

Recently, the stock price bounced near the 50-day EMA with a rectangle chart pattern breakout. This stock has generated 52.48% of maximum returns for its investors over the 6 months. Energy Development Co. Ltd. engages in the business of power generation and infrastructure development.

Indian Railway Finance Corp. Ltd

IRFC’s stock price has given a price volume breakout by breaking its prior high on Monday. The relative strength index of this chart is trading at the 71 level. This is a promising sign that the stock is breaking its prior highs. According to its volume spurt and candle formation, traders are showing interest in this particular stock.

The stock has seen a surge in volume by more than 4.5 times today. A few sessions ago, the stock price bounced from its 50-day EMA, suggesting the sustenance of the uptrend. IRFC has surged 7.18% in a day.

Indian Railway Finance Corp. Ltd is engaged in the business of borrowing funds from the finance markets to finance the acquisition of assets which are leased out to the Indian Railways as finance lease.

Samvardhana Motherson International Ltd

Samvardhana Motherson International’s stock has given a price-volume breakout along with a trendline breakout. The stock price has bounced from its previous resistance, which is acting as a support for now. The stock has witnessed a surge in volume, more than the daily average. The stock price is showing a strong upmove with normal buying, and the Relative Strength Index is rising and trading at the level of 67.06, which is about to enter a strong bullish zone to trade for a stock price. The stock has given 33.13% returns in a year.

Samvardhana Motherson International Ltd is a holding company, which engages in the manufacture and sale of wire harnesses, components, and wires to automotive original equipment manufacturers.

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.