Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

Yes Bank

Yes Bank’s stock has experienced a significant uptrend today, with the price reaching Rs 27.25, a notable increase from the previous close of Rs 25.55. This movement suggests bullish momentum in the stock. The price is currently hovering near its 52-week high of Rs 32.85, indicating potential resistance ahead. However, there is strong support at Rs 25, which acted as a base for the recent bounce. The Relative Strength Index (RSI) is at 57.84, reflecting moderate bullish sentiment. Additionally, there has been a notable increase in trading volume, indicating heightened investor interest in the stock.

NHPC Ltd

NHPC’s stock has shown a positive breakout today, reaching Rs 94.15 from the previous close of Rs 92.65. This signifies a bullish trend in the stock, with potential momentum towards its 52-week high. A hammer candlestick pattern observed at the 20-day Exponential Moving Average (EMA) suggests a reversal from previous downward movement. The RSI at 57.50 indicates moderate bullish sentiment, supported by a significant increase in trading volume.

South Indian Bank Ltd

South Indian Bank’s stock has demonstrated strong bullish movement today, reaching Rs 35.65 from the previous close of Rs 32.55. This surge indicates a breakout from previous resistance levels, with the stock bouncing back from its 50-day EMA. The RSI at 59.79 suggests bullish momentum, supported by a price-volume breakout and a notable increase in trading volume.

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.