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Top 3 Breakout Stocks Trading Below Rs 100

19 February 20244 mins read by Angel One
BCL Industries, Filatex India and Maral Overseas below Rs 100 have given price and volume breakout, reinforcing their positive trajectory.
Top 3 Breakout Stocks Trading Below Rs 100
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These three equities gained significantly during Thursday’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

BCL Industries Ltd

BCL Industries Ltd

BCL Industries exhibits a compelling technical setup. The stock has demonstrated indication of Price Volume Breakout along with bounce back from support level on daily timeframe, 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 change in the previous sideways trend after 52-week high breakout. The Relative Strength Index (RSI) at 66.61 implies the decision point for the trend, suggesting the stock might in reverse in the down side also. The observed volume spike and successful bounce back from support confirmation to the bullish momentum for longer term.

Filatex India Ltd

Filatex India Ltd

Filatex India presents an intriguing technical picture. The stock has witnessed a Price surge along with bounce back from crucial level, 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 68.03 indicates a healthy uptrend without reaching at overbought condition. A notable volume spike in next session may add confirmation to the trend, solidifying the technical strength and potential for further upside as it is indication syphoning pattern.

Maral Overseas Ltd

Maral Overseas Ltd

Maral Overseas 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 reinforce the stock’s strength again. The RSI at 57.49 indicates a neutral strength to start new fresh trend with favorable conditions. The presence of a today’s 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 good 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.

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