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.

Morepen Laboratories Ltd

Morepen Laboratories has given a volume price breakout on a daily timeframe. The stock is currently trading at Rs 43 and has seen a spurt in volume of 5.23 times. The stock price has witnessed a 52-week breakout, with the confirmation of a relative strength index at the level of 77, which is a bullish range for the stock to uptrend. This stock has generated 68.93% of returns for its investors over the 6-month time period.

Morepen Laboratories Ltd is in the business of manufacturing bulk drugs, intermediates, and medical devices; and the business of formulation.

Kothari Sugars & Chemicals Ltd

Kothari Sugars & Chemical stock price has given an inverted head and shoulder breakout, a positive sign of bullish activity. This breakout is further confirmed by the Relative Strength Index, which has entered the bullish range of 65 to 80. This is a promising sign that the stock is about to enter into high momentum, and traders may show interest in this particular stock. The stock volume has been rising since the last four trading sessions, suggesting the sustenance of the uptrend. Kothari Sugars & Chemicals has generated more than 439.34% returns over the life period, and the stock has been closing in green for the last three consecutive trading sessions.

Kothari Sugars & Chemicals Ltd is engaged in the manufacture of sugar.

Bhansali Engg Polymers Ltd

Bhansali Engineering Polymers stock witnessed a range breakout bouncing from base support. The surge of 5% in stock price resulted in strong bullishness on Wednesday. The stock has witnessed a huge volume spike today, more than 10 times higher than the daily average. The stock price is showing a strong up move, with heavy buying confirming the strength. The Relative Strength Index just crossed the level of 65, showing signs of outperformance. The stock has given multibagger returns of 374.02% over the maximum period of its trading journey.

Bhansali Engineering Polymers Ltd manufactures and sells acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) resins.

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.