Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Patel Integrated Logistics Ltd

Patel Integrated Logistics’ stock has given a volume price breakout on the weekly chart by taking 50-day EMA support 6 weeks ago. The stock is currently trading at Rs 23.50 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 75. Recently, the stock price bounced from the 50-day EMA with a rectangle chart pattern breakout. This stock has generated 77.70% of maximum returns for its investors over the 6 months.

Patel Integrated Logistics Ltd engages in the air cargo consolidation business.

Pearl Polymers Ltd

Pearl Polymers’ stock price has given a price volume breakout by breaking its 52-week high on Thursday. The relative strength index of this chart is trading at the 68 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 that was significant today. A few sessions ago, the stock price bounced from its 50-day EMA, suggesting the sustenance of the uptrend. Pearl Polymers’ stock has surged 20% in a day and is trading in a channel.

Pearl Polymers Ltd is engaged in the manufacture and export of rigid packaging and houseware products.

IFCI Ltd

IFCIs’ stock has given a price-volume breakout along with a 52-week breakout, facing pressure from sellers forming a large upper shadow. The stock price has bounced from its previous breakout level. 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 71, which has entered a bullish zone. The stock has given 86.03% returns in a year.

IFCI Ltd. operates as a non-banking finance company, which engages in financing activities that cover various projects.

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.