Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Coffee Day Enterprises Ltd

Coffee Day Enterprises’ stock has given a volume price breakout and is trading above an important resistance level. The stock is currently trading at Rs 64.30 and has seen a spurt in volume in today’s sessions. The stock price has witnessed a 52-week breakout, supported by a super strong relative strength index trading at a level of 85, which is at overbought levels. The next resistance is at Rs. 73, as it can be a potential target for the current breakout. This stock has generated 69.88% of maximum returns for its investors over the 6 months.

Coffee Day Enterprises Ltd is engaged in the business of owning and operating a resort and rendering consultancy services.

Salasar Techno Engineering Ltd

Salasar Techno Engineering’s 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 78 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 nine times today. A few sessions ago, the stock price bounced from its lower trendline as it formed an ascending triangle chart pattern. Salasar Techno Engineering’s stock has surged 6% in a day.

Salasar Techno Engineering Ltd engages in the manufacture and trade of steel items.

Indiabulls Real Estate Ltd

Indiabulls Real Estate’s stock has given a price-volume breakout along with a strong resistance breakout. The stock price has bounced from the 50-day EMA and broke out of the resistance line. 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 69, which has entered a strong bullish zone to trade. The stock has given 11.30% returns in a year.

Indiabulls Real Estate Ltd is involved in the provision of real estate development services.

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.