Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

SJVN Ltd

SJVN’s stock has given a volume price breakout on the day chart by taking intraday support of the previous breakout level. The stock is currently trading at Rs 90.90 and has seen a spurt in volume in today’s sessions. The stock price has witnessed a 52-week breakout, supported by a strong relative strength index trading at a level of 75. Recently, the stock price bounced from the 50-day EMA. This stock has generated 145.61% of maximum returns for its investors over the 6 months.

SJVN Ltd is engaged in the generation and sale of electricity.

Nagreeka Exports Ltd

Nagreeka Exports’ stock price has given a price volume breakout by breaking its 52-week high on Thursday. The Relative Strength Index of this chart is trading at the 79 level, and the price just broke from a wedge-like range. This is a promising sign that the stock is rising again, according to its trendline breakouts, and traders are showing interest in this particular stock. The stock has seen a surge in volume by more than 49.88 times today. A few sessions ago, the stock price bounced from its 50-day EMA, suggesting the sustenance of the uptrend. Nagreeka Exports has generated more than 200% returns over 5 years.

Nagreeka Exports Ltd is engaged in the manufacturing and exporting of cotton yarn and knitted fabrics.

Indian Overseas Bank

Indian Overseas Bank’s stock broke its prior high with volume on Thursday. The stock price has bounced from the 50-day EMA for the third time, showing that it is respecting the technical levels. The stock has witnessed rising volumes for the last 5 days, more than the daily average. The stock price is showing a strong up move with normal buying, with the Relative Strength Index is rising and trading at the level of 69, which is about to enter a strong bullish zone to trade for a stock price. The stock has given 71.68% returns in a year.

Indian Overseas Bank engages in the provision of commercial banking 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.