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.

Geojit Financial Services Ltd

Geojit Financial Services’ stock has given a volume price breakout on the daily and weekly charts along with a strong chart pattern breakout called rounding bottom. The stock is currently trading at Rs 79.35 and has seen a spurt in volume in today’s sessions. It witnessed a 52-week breakout, supported by a strong relative strength index trading at a level of 85. This stock has generated 74% returns for its investors over the one year.

Geojit Financial Services Ltd is a holding company, which offers a portfolio of savings and investment solutions.

Hindcon Chemicals Ltd 

Hindcon Chemicals’ stock price has given a price volume breakout and hit an all-time high on Monday. The relative strength index is trading at the 74 level. This is a promising sign that the stock is breaking its prior higher highs. According to its volume spurt and candle formation, traders are showing interest in this particular stock and it has seen a surge in volume that was significant today. A few sessions ago, the stock bounced from a 50-day EMA, suggesting support for the emerging uptrend. Shares of Hindcon Chemicals surged 11% in a day and generated returns of 120.75% in a year.

Hindcon Chemicals Ltd engages in the manufacturing of sodium silicate and cement additives.

IDBI Bank Ltd

IDBI Banks’ stock has given a price-volume breakout along with a channel breakout, trading with a strong bullish candle facing some selling pressure. The stock price has bounced from its 200-day EMA. The stock has witnessed a surge in volume, more than the average volume. The stock price is showing a strong upmove with normal buying, and the Relative Strength Index is rising and trading at the level of 70, which has entered a bullish zone. It has given 13.49% returns in a month.

IDBI Bank Ltd is in the provision of commercial banking services to retail and corporate customers.

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 decision