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.

Orient Ceratech Ltd 

Orient Ceratech Ltd stock showed strong movement today, bouncing back from its 50-day Exponential Moving Average (EMA) a while ago. It broke out from its 52-week high, indicating positive momentum. After consolidating for three months, it exhibited a price volume breakout with a notable volume spike. The Relative Strength Index (RSI) sits comfortably in the bullish region at 70.09. With these indicators, the stock seems poised for further upward movement.

Sigachi Industries Ltd

Today, Sigachi Industries Ltd stock formed an indecision candle, suggesting uncertainty in the market sentiment. However, it also experienced a price volume breakout and broke out from its 52-week high range. The bounce from the 50-day EMA adds to its bullish outlook. The RSI at 70.44 confirms the bullish sentiment, accompanied by a volume spike. Despite the indecision candle, the overall trend appears to be in favour of further upside movement.

Suzlon Energy Ltd

Suzlon Energy Ltd stock is likely to witness a price volume breakout soon, as it trades near its 50-day EMA. Currently, it shows signs of bouncing from its current level, with the trendline and 50-day EMA providing support. The RSI at 48.75 suggests a neutral stance. However, the stock is respecting the 50-day EMA and trendline, indicating potential upward movement in the near term.

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.