Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Yes Bank Ltd 

Today, Yes Bank’s stock faced a decrease in price by 0.84% to Rs 23.65. However, the trading volume remained high at 176,614,273 shares. This suggests a potential for a rebound as the stock is likely to bounce back from support levels. The Relative Strength Index (RSI) stands at 41.52, indicating a neutral sentiment among investors. The recent decline is attributed to the overall market downturn. Despite this, prior gains of 42.62% indicate the stock’s potential for recovery.

Infibeam Incorporation Ltd

Infibeam’s stock experienced a slight decrease of 0.5% to Rs 39.95, with a substantial trading volume of 140,921,675 shares. However, it’s noteworthy that the stock recently exhibited a price volume breakout and a symmetrical triangle breakout, showcasing its strength. The RSI is high at 65.84, signaling favourable conditions, yet the previous gains of 72.03% suggest strong momentum. Investors should be cautious of potential resistance at the 52-week high and consider a breakout level of Rs 40.00 with a stop loss at Rs 33.00.

NHPC Ltd 

Today, NHPC’s stock traded at Rs 90.15 with a slight increase of 0.11%, accompanied by a large trading volume of 63,466,481 shares. The stock is likely to bounce from the trendline and is currently trading at the 20-day Exponential Moving Average (EMA). However, it’s important to note the squeeze day due to selling pressure in the overall market. Investors should observe the trendline for potential bounce-back and consider market conditions carefully.

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.