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.

National Fertilizers Ltd 

Shares of National Fertilisers have given a volume price breakout in addition to a 52-week high breakout. The stock is currently trading at Rs 91.65, and activity has increased today. The stock price has broken through a significant milestone, supported by a super strong relative strength index trading at 74, which could herald the start of a new positive trend. The next level of resistance is at Rs 120, which suggests that it might be a potential target for the current breakout. This stock made 30.65% of the maximum earnings for its investors over a 6-month period.

National Fertilizers Ltd is engaged in the manufacture and sale of fertilizer products.

Lagnam Spintex Ltd

Lagnam Spintex’s stock price saw a price volume breakout and a large bullish candle on Thursday. The relative strength index on this chart is currently at 69, following a dip the previous day. This is a positive indication that the stock is on the rise. Based on the volume surge and candle pattern, traders are showing interest. The stock has never had a higher-than-average surge in volume in the last few trading days. The price volume breakout has burst past the upper barrier, completing an ascending triangle chart pattern. The stock price has increased by 19% as a result of this breakout.

Lagnam Spintex Ltd is involved in the manufacture and trade of cotton and export yarn.

Punjab National Bank 

Scrip of Punjab National Bank has seen a price-volume breakout. The stock price has recovered from its 20-day moving average. The stock price is displaying a strong up move with some selling pressure, and the Relative Strength Index is rising and displaying similar patterns, indicating that the stock price may enter the positive zone after breaking out of the new higher highs to trade above all-time highs. The stock has returned 72.11% in six months.

Punjab National Bank operates as a commercial bank.

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.