Top 3 breakout stocks trading below Rs 100

These 3 stocks have shown substantial gains in Monday’s trading sessions, indicating strong bullish activity.

Here’s an in-depth look.

Munjal Auto Industries Ltd

Munjal Auto Industries Ltd has given a volume price breakout on the day chart with the formation of a flag and pole chart pattern. The stock is currently trading at Rs 88.50 and has seen rising volume since the last few sessions. The stock price has witnessed a 52-week, multi-year breakout supported by a strong relative strength index. This stock has generated 74.01% of maximum returns for its investors over the 6 months.

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

IFCI Ltd

IFCI’s stock price has given a price volume breakout by breaking its 52-week high on Monday. The sustainability of this breakout is further confirmed by RSI trading at the 73 level. This is a promising sign that the stock is in high momentum and traders are showing interest in this particular stock. A few sessions ago, the stock price bounced from its 50-day EMA trendline, suggesting the sustenance of the uptrend. IFCI has generated more than 144.30% returns over a 6-month period and more than 10% in a day.

IFCI Ltd operates as a non-banking finance company, which engages in financing activities that cover various projects.

Paisalo Digital Ltd

Paisalo Digital’s stock broke a 52-week high on Monday. The surge of 14% in stock price resulted in a rounding bottom chart pattern breakout. The stock has witnessed a huge volume spike today, more than 7.08 times the daily average. The stock price is showing a strong up move with heavy buying, with the RSI suggesting strength by trading at the level of 76.31, which is a bullish zone to trade for a stock price. On Monday, the price touched its 52-week high by surging more than 13%. The stock has given 2,003.84% returns in a decade.

Paisalo Digital Ltd operates as a non-banking company, which engages in the provision of financial services.

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.