Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

HCL Infosystems Ltd 

HCL Infosystems’ stock has given a volume price breakout in conjunction with an inverted head and shoulder chart pattern breakout and is trading above an important resistance level. It is currently trading at Rs 21.85 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 76, which is in the bullish zone. The next resistance is at Rs. 31.30, as it can be a potential target for the current breakout. This scrip has generated 60% of maximum returns for its investors over the 6 months.

HCL Infosystems Ltd is a holding company, which engages in information technology (IT) services, solutions and distribution.

PC Jeweller Ltd   

Shares of PC Jewellers have given a price volume breakout by consecutive bullish candles on Friday. The relative strength index of this chart is trading at the 88 level. This is a promising sign that the stock is showing a strong surge. According to its volume spurt and candle formation, traders are showing interest in this particular stock. The stock has seen a surge in volume more than its average since the last few trading days. A few sessions ago, the stock price had a breakout of the rectangle chart pattern. The scrip has surged 23% since the pattern breakout.

PC Jeweller Ltd engages in the manufacturing, retailing, and exporting of jewellery products.

Lexus Granito (India) Ltd

Lexus Granito’s stock has given a price-volume breakout along with a rectangle breakout. Its price has broken out of the resistance line with a gap. The stock has witnessed a surge in volume, more than the previous volume spikes. It is showing a strong up move with normal buying, and the Relative Strength Index is rising and trading at the level of 80, which is about to enter an overbought zone to trade. The stock has given 38.60% returns in 3 months.

Lexus Granito (India) Ltd is involved in the manufacture, trade, and marketing of vitrified ceramic tiles and wall tiles for the domestic and international markets.

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.