Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Munjal Auto Industries Ltd 

The stock of Munjal Auto Industries has provided a volume price breakout in conjunction with a flag & pole chart pattern breakout and is closed with a strong marubozu candle. It is is currently trading at Rs 87.20 and has experienced an increase in activity today. The stock price has seen a key level breakout, backed up by a super strong relative strength index trading at a level of 64, which could signal the start of a new bullish trend. The next resistance level is at an all-time high, suggesting that it could be a potential target for the current breakout. Over 6 months, this stock generated 69.48% of the maximum profits for its investors.

Munjal Auto Industries Ltd is engaged in the production of automobile components.

Asian Granito India Ltd

On Wednesday, the stock price of Lasa Supergenerics witnessed a price volume breakout and a big bullish candle. This chart’s relative strength index is trading at 71, recovering after a drop last week. This is a hopeful sign that the stock is on the rise. Traders are exhibiting interest in this stock based on its volume spike and candle pattern. Since the last several trading days, the stock has seen a higher-than-average increase in volume. The stock price has been consolidating over the last few days, and with this price volume breakout, it has broken through the upper barrier and completed a basing pattern. This breakout has resulted in a 9% increase in the stock price.

Lasa Supergenerics Ltd. engages in the manufacture of veterinary preparations.

Pearl Polymers Ltd

Shares of Pearl Polymers have shown a price-volume breakout. The stock price has recovered from the channel’s lower trendline. It has seen a jump in volume, but due to the high average from last week’s bulk trade, it appears low. The stock price is displaying a strong up move with routine purchasing, and the Relative Strength Index is rising and showing similar patterns, suggesting that the stock price may enter the positive zone after breaking out of the channel to trade above the 52-week high. In six months, the stock has returned 45.90%.

Pearl Polymers Ltd engages in the manufacture and export of rigid packaging and houseware products.

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.