Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Thursday’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

Infibeam Avenues Ltd

Daily chart of Infibeam Avenues Ltd

Infibeam Avenues Ltd portrays a promising technical scenario. The Price Volume Breakout, accompanied by the completion of the flag and pole chart pattern formation, suggests a renewed bullish momentum. The bounce from the 50-day EMA in the long term reinforces the stock’s strength. The RSI at 75.70 indicates a balanced trend without extreme conditions. The presence of a Thursday’s long green candle adds a bullish trend start signal, supporting the notion of a potential uptrend. The observed volume spike further validates the bullish momentum, indicating increased market participation in the stock. Overall, Infibeam Avenues Ltd appears well-positioned for potential upside movement.

Vakrangee Ltd

Weekly chart of Vakrangee Ltd

Vakrangee Ltd exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout, signifying a strong bullish sentiment. Furthermore, it is currently trading above all key moving averages, reinforcing the positive outlook as a golden cross is visible on the chart. The bounce back from the trendline level and the retest to the previous breakout level adds to the bullish signals, indicating a potential. The Relative Strength Index (RSI) at 65.76 implies a continuation of a bullish trend, suggesting the stock might be amid a strong uptrend. The observed volume spike on the daily chart and successful bounce from the 50-day and 200-day Exponential Moving Average (EMA) and a robust support level add confirmation to the bullish momentum for the longer term.

Reliance Power Ltd 

Weekly chart Reliance Power Ltd 

Reliance Power Ltd presents an intriguing technical picture. The stock has witnessed a Price Volume Breakout along with a flag and pole breakout, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The retest at the 20-day EMA level further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 62.38 indicates a healthy uptrend without reaching an extreme overbought condition. A notable volume spike on a daily basis, coupled with a successful bounce from the strong support, solidifies the technical strength and potential for further upside.

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.