Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Dhanlaxmi Bank Ltd

The stock of Dhanlaxmi Bank witnessed a notable uptrend today, with a significant price volume breakout. This was further supported by the formation of a symmetric triangle pattern, indicating a potential continuation of the bullish momentum. The stock encountered resistance near its 52-week high and upper trendline, which could serve as a crucial level to watch for further price action. The Relative Strength Index (RSI) stood at 52.79, suggesting a balanced momentum. Additionally, the stock found support at its 20-day Exponential Moving Average (EMA), reinforcing the bullish sentiment. The day concluded with a notable volume spike, indicating heightened investor interest and a potential continuation of the current trend.

PC Jeweller Ltd

PC Jeweller witnessed a strong upward movement today, bouncing from its 50-day EMA, indicating bullish momentum in the stock. This move was accompanied by a V-shaped base breakout, suggesting a swift reversal in the price trend. However, the PC Jeweller stock is currently trading below its 52-week high, indicating a possible resistance level ahead. The RSI stood at 65.76, reflecting strong buying pressure. Additionally, there was a significant surge in trading volume, further validating the bullish outlook for the stock.

North Eastern Carrying Corp Ltd

North Eastern Carrying Corporation displayed resilience today, bouncing back from its 50-day EMA, indicating a bullish sentiment in the stock. Despite trading in a range, the North Eastern Carrying Corporation stock showed signs of a potential price volume breakout. The RSI stood at 59.22, suggesting favorable momentum. The day witnessed a notable rise in trading volume, indicating increasing investor interest and a potential continuation of the current trend.

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.