Top 3 breakout stocks trading below Rs.100

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

Here’s an in-depth look.

Oswal Greentech Ltd

Oswal Greentech Ltd exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout along with a multiyear high breakout, signifying a strong bullish sentiment. Furthermore, it is currently trading above all key moving averages, reinforcing the positive outlook. The presence of a Bullish long-range candle adds to the bullish signals, indicating a potential continuation of the previous uptrend. The Relative Strength Index (RSI) at 83.37 implies a continuation of a bullish trend, suggesting the stock might be amid a strong uptrend. The observed volume spike and successful bounce from the 200-day Exponential Moving Average (EMA) and a robust support level add confirmation to the bullish momentum for the longer term.

NMDC Steel Ltd

NMDC Steel Ltd presents an intriguing technical picture. The stock has witnessed a Price Volume Breakout along with a breach of an all-time high, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The all-time high breakout further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 83.08 indicates a healthy uptrend with reaching an overbought condition. A notable volume spike, coupled with a successful upthrust with a gap-up opening on Monday, solidifies the technical strength and potential for further upside after a cooldown of price. Currently, the stock price seems overheated.

Maral Overseas Ltd

Maral Overseas Ltd portrays a promising technical scenario. The Price Volume Breakout, accompanied by the completion of the ascending triangle 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 71.05 indicates a balanced trend without extreme conditions. The presence of a Monday’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, Maral Overseas Ltd appears well-positioned for potential upside movement.

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.