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.

Kothari Sugars & Chemicals Ltd

Kothari Sugars & Chemicals Ltd 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 76.54 implies a continuation of a bullish trend, suggesting the stock might be at the start of a strong uptrend. The observed volume spike and successful breakout of consolidation add confirmation to the bullish momentum for the longer term.

DEN Networks Ltd

 DEN Networks presents an intriguing technical picture. The stock has witnessed a Price Volume Breakout along with a bounce back from the trendline, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The bounce from the trendline of an uptrend further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 56.53 indicates a healthy uptrend without reaching an overbought condition. A notable volume spike, coupled with a successful upthrust from the 50-day EMA on Monday, solidifies the technical strength and potential for further upside. Currently, the stock price seems neutral strength at the trendline.

IRB Infrastructure Developers Ltd

IRB Infrastructure Developers portrays a promising technical scenario. The Price Volume Breakout, accompanied by the completion of the flag & pole chart pattern formation, suggests a renewed bullish momentum. The price action from channel breakout in the long term reinforces the stock’s strength. The RSI at 83.54 indicates an overheated trend with extreme conditions.

The presence of a Monday’s 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, IRB Infrastructure Developers Ltd appears well-positioned for potential upside movement with possible sudden corrective actions.

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.