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.

NHPC Ltd

The RSI at 75.25 indicates a healthy uptrend without reaching at overbought condition. exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout along with bounce back from prior base breakout level on daily timeframe and exhaust of profit booking, 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 reversal in the previous uptrend. The Relative Strength Index (RSI) at 51.41 implies the decision point for the trend, suggesting the stock might in reverse in the strong uptrend. The observed volume spike and successful bounce back from 50-day EMA confirmation to the bullish momentum for longer term.

Radhika Jeweltech Ltd

Radhika Jeweltech presents an intriguing technical picture. The stock has witnessed a Price Volume surge along with flag & pole formation, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The prior breakout of consolidation further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 75.25 indicates a healthy uptrend without reaching at overbought condition. A notable volume spike, coupled with a successful volume increase today, solidifies the technical strength and potential for further upside.

Sigachi Industries Ltd

Sigachi Industries portrays a promising technical scenario. The Price bounce back, accompanied from 50-day EMA, suggests a renewed bullish momentum. The price breakout from prior base structure may reinforces the stock’s strength again. The RSI at 53.04 indicates a neutral strength to start new fresh trend with favourable conditions. The presence of a todays volume doesn’t add any bullish signal but as a pullback on day base suggest a short uptrend. At these levels the stock already traded with heavy volumes and it may further trigger in stock price falls below current day low. 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.