Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Tuesday’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

AYM Syntex Ltd 

Shares of AYM Syntex have experienced a notable volume price breakout, coupled with bullish a strong resistance breakout. Currently priced at Rs 82.50, the stock has witnessed a substantial surge in trading activity today. The breakout is particularly significant, supported by a robust relative strength index (RSI) trading at 74, signalling the start of a new bullish trend. Given that the stock is trading with much higher volumes, the next level of resistance remains intact at Rs 59. Notably, this stock has yielded a remarkable 19.34% return for investors in the last 1 month.

AYM Syntex Ltd engages in the manufacture and sale of synthetic yarns.

Shah Alloys Ltd 

Shah Alloys has recently experienced a notable volume price breakout alongside a break of ascending triangle. Currently priced at Rs 78.50, the stock has witnessed heightened trading activity in recent days. This breakout is underscored by a robust relative strength index (RSI) trading at an overbought level of 76, indicating the potential initiation of a positive trend. Over the last 6 months, the stock has delivered a noteworthy return of 77.40%, further highlighting its positive trajectory.

Shah Alloys Ltd operates as a holding company.

Bannari Amman Spinning Mills Ltd 

Shares of Bannari Amman Spinning Mills exhibited a notable price volume surge accompanied by a substantial bullish candlestick pattern on Tuesday, along with a consolidation breakout. The current relative strength index (RSI) stands at 67, indicative of an ongoing uptrend in recent trading sessions. This strong signal positive momentum and suggests an upward trajectory for the stock if upper resistance broken.

The surge in volume and the specific candlestick formation point to heightened trader interest. The stock price is about to give a resistance breakout. Consequently, the stock has experienced a 6.92% increase in price in a day.

Bannari Amman Spinning Mills Ltd is involved in the manufacture and marketing of cotton yarn, woven and knitted fabrics, processing of fabrics, finished garments, home textiles, and wind power generation.

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.