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.

SEPC Ltd

SEPC exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout along with a 52-week 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 71.79 implies a continuation of a bullish trend, suggesting the stock might be amid a strong uptrend. The observed volume spike and successful breakout of the symmetrical chart pattern add confirmation to the bullish momentum for the longer term.

Libas Design Ltd

Libas Design presents an intriguing technical picture. The stock has witnessed a Price Volume Breakout along with a breach of a 52-week high, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The breach at the upper trendline of a rising channel further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 66.58 indicates a healthy uptrend without reaching an overbought condition. A notable volume spike, coupled with a successful upthrust with an opening on Wednesday, solidifies the technical strength and potential for further upside after a cooldown of price. Currently, the stock price seems overheated at the upper trendline of the channel.

Orient Green Power Ltd

Orient Green Powerportrays a promising technical scenario. The Price Volume Breakout, accompanied by completion consolidation and its breakout, suggests a renewed bullish momentum. The bounce from the 50-day EMA in the long term reinforces the stock’s strength. The RSI at 68.30 indicates a balanced trend without extreme conditions. The presence of a Wednesday’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, Orient Green Power 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.