Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Suzlon Energy Ltd 

Suzlon Energy has recently demonstrated a notable volume-price breakout, accompanied by the 52-week high breakout. Currently valued at Rs 45, the stock has experienced a significant surge in trading activity. The breakout is particularly noteworthy, supported by a robust relative strength index (RSI) trading at 75.22 on a daily basis, indicating the continuation of a new bullish trend. Trading at its 13-year high, the next level of resistance for the stock is at Rs 51. It is noteworthy that this stock has delivered multibagger returns of 359% to investors in the last one year.

Suzlon Energy Ltd is involved in the sale of wind turbine generators and related components of various capacities.

Punjab & Sind Bank Ltd

Punjab & Sind Bank has recently witnessed a substantial price bounce back, coinciding with the pullback from strong support and 50-day EMA. Presently valued at Rs 44.70, the stock has experienced heightened trading activity today. The price action is supported by a neutral relative strength index (RSI) trading at an overbought level of 57.47, indicating the potential initiation of a positive trend. With a noteworthy return of 40.48% in the last year, the stock is exhibiting a positive trajectory.

Punjab & Sind Bank Ltd engages in the provision of banking products and services.

Utkarsh Small Finance Bank Ltd

Utkarsh Small Finance Bank stock has demonstrated a notable price-volume breakout, marked by a substantial bullish candlestick pattern on the day, along with a prior high resistance breakout on the daily timeframe. The current daily relative strength index (RSI) stands at 73.83, signalling an ongoing uptrend in recent trading sessions. The surge in volume, coupled with the specific candlestick formation, indicates heightened trader interest. With an upper resistance breakout, the stock has experienced a 6% increase in price over the day.

Utkarsh Small Finance Bank Ltd engages in the provision of banking and financial solutions.

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.