Top 3 breakout stocks trading below Rs 100 Today, 12 December 2023

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

Here’s an in-depth look.

Surana Solar Ltd

Surana Solar’s stock has given a volume price breakout on the weekly chart by taking 50-day EMA support 7 weeks ago. The stock is currently trading at Rs 32.25 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 74. Recently, the stock price bounced from the 50-day EMA with an inverted head and shoulder chart pattern breakout. This stock has generated 47.26% of maximum returns for its investors over the 6 months.

Surana Solar Ltd is engaged in the manufacture and sale of solar products and generation of wind electricity.

Ravinder Heights Ltd

Ravinder Heights’ stock price has given a price volume breakout by breaking its 52-week high on Tuesday. The relative strength index of this chart is trading at the 86 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 twice today. A few sessions ago, the stock price bounced from its 50-day EMA, suggesting the sustenance of the uptrend. Ravinder Heights’ stock has surged 10% in a day by locking in the upper circuit.

Ravinder Heights Ltd engages in the business acquisition, and construction, development of properties.

Infibeam Avenues Ltd

Infibeam Avenues’ stock has given a price-volume breakout along with a symmetrical triangle breakout. The stock price has bounced from the 50-day EMA and broke out of the upper trendline. The stock has witnessed a surge in volume, more than the daily average. The stock price is showing a strong up move with normal buying, and the Relative Strength Index is rising and trading at the level of 68, which has entered a strong bullish zone to trade. The stock has given 28.73% returns in a year.

Infibeam Avenues Ltd is a holding company, which engages in the provision of e-commerce and payment solutions to businesses of all sizes and the government.

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.