Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Thursday’s trading session, indicating strong bullish action.

Here’s an in-depth look.

Oswal Agro Mills Ltd

Shares of Oswal Agro Mills experienced a notable volume price breakout, coupled with an ascending triangle breakout. Currently priced at Rs 38.75, the stock has witnessed a substantial surge in trading activity today. The breakthrough is particularly significant, supported by a robust relative strength index (RSI) trading at 71, signalling the initiation of a new bullish trend. Given that the stock is trading near the 52-week high, the next level of resistance remains at Rs 42 and Rs 51. Notably, this stock has yielded a remarkable 27.54% return for investors over the past 6 months.

Oswal Agro Mills Ltd is engaged in the development of real estate properties and provision of investment services.

Salasar Techno Engineering Ltd

Salasar Techno Engineering has recently experienced a notable volume price breakout alongside a breakout from its all-time high. Currently priced at Rs 73.45, the stock has witnessed heightened trading activity in recent days. This breakthrough is underscored by a robust relative strength index (RSI) trading at an overbought level of 80, indicating the potential initiation of a positive trend.

The stock’s impressive performance includes a breach of a significant milestone, with the open sky upside. Over the past year, the stock has delivered a noteworthy return of 48.19%, further highlighting its positive trajectory.

Salasar Techno Engineering Ltd. engages in the manufacture and trade of steel items.

Murudeshwar Ceramics Ltd

Murudeshwar Ceramics’ stock exhibited a notable price volume breakout accompanied by a substantial bullish candlestick pattern on Thursday, along with a bounce back from the key support level. The current relative strength index (RSI) stands at 56, indicative of an ongoing uptrend in recent trading sessions. This signals positive momentum and suggests an upward trajectory for the stock.

The surge in volume and the specific candlestick formation point to heightened trader interest. The stock price has bounced from its support level, which had acted as a strong resistance before. Consequently, the stock has experienced a 5% increase in price following this breakout to lock in the upper circuit.

Murudeshwar Ceramics Ltd is involved in the manufacture and sale of tiles.

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.