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.

Shanti Overseas (India) Ltd

Shanti Overseas exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout along with a 52-week breakout on the daily timeframe and formation of a rounding bottom on the weekly chart, 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 73.06 implies a continuation of a bullish trend, suggesting the stock might be in continuation of a strong uptrend. The observed volume spike and successful breakout of consolidation add confirmation to the bullish momentum for the longer term.

Sindhu Trade Links Ltd

Sindhu Trade Links presents an intriguing technical picture. The stock has witnessed a Price Volume surge along with a range breakout, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The volume spike and volume buildup and uptrend further support the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 81.02 indicates an uptrend with reaching an overbought condition that traders be cautious at the moment. A notable volume spike, coupled with a successful volume increase today, solidifies the technical strength and potential for further upside.

AYM Syntex Ltd

AYM Syntex portrays a promising technical scenario. The Price bounce back, accompanied by support, suggests a renewed bullish momentum. The price breakout from consolidation may reinforce the stock’s strength again. The RSI at 52.91 indicates a neutral bullish strength to start a trend with favourable conditions. The presence of a prior breakout trading candle adds a bullish trend start signal, supporting the notion of a short uptrend. The observed little volume increase further validates the bullish momentum, indicating increased market participation in the stock. Overall, the stock appears well-positioned for little 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.