Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

S.A.L. Steel Ltd

S.A.L. Steel’s stock has given a volume price breakout and is trading above an important resistance level. The stock is currently trading at Rs 18.22 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. 33.55, as it can be a potential target for the current breakout. This stock has generated 59.04% of maximum returns for its investors over the 6 months.

S.A.L. Steel Ltd is engaged in the manufacture and market of sponge iron and ferroalloys.

Ortin Laboratories Ltd

Ortin Laboratories’ stock price has given a price volume breakout by breaking its prior high on Wednesday. The relative strength index of this chart is trading at the 76 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. It has seen a surge in volume more than its average today. A few sessions ago, the stock price bounced from its lower trendline as it formed a symmetric triangle chart pattern. Ortin Laboratories’ stock has surged 10% in a day and is locked in the upper circuit.

Ortin Laboratories Ltd is involved in the manufacture of drug intermediates and pharmaceutical products.

Capital Trust Ltd

Capital Trust’s stock has given a price-volume breakout along with a rectangle 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 previous volume spikes. The stock price is showing a strong upmove 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 34.66% returns in a year.

Capital Trust Ltd is a holding company, which engages in the provision of non-banking financial business.

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.