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.

Vl E-Governance & IT Solutions Ltd

Shares of Vl E-Governance & IT Solutions have given a volume price breakout in conjunction with a rounding bottom chart pattern breakout and are trading above an important resistance level. It is currently trading at Rs 41.60 and has seen a spurt in volume in today’s sessions. The stock price has witnessed an important level breakout, supported by a super strong relative strength index trading at a level of 77, which is in the bullish zone. The next resistance is at its all-time high, as it can be a potential target for the current breakout. This stock has generated 41% of maximum returns for its investors over the 6 months.

Vl E-Governance & IT Solutions Ltd is engaged in the provision of electronic governance services.

Asian Granito India Ltd

Asian Granito India’s stock price has given a price volume breakout a strong bullish candle on Tuesday. The relative strength index of this chart is trading at the 59 level, recovering from an oversold region. 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. From the last few sessions, the stock price has been in a downtrend, and today it has broken the upper trendline with this price volume breakout. The stock price has surged 8% on this breakout.

Asian Granito India Ltd engages in the manufacture of tiles and marbles.

Morepen Laboratories Ltd

Morepen Laboratories has given a price-volume breakout. The stock price has broken out of the resistance line with a gap converging up from the last two trading sessions. It has witnessed a surge in bunch volume from the previous trading session. 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 71, which is about to enter an overbought zone to trade. The stock has given 68.17% returns in 6 months.

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

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.