Top 3 breakout stocks trading below Rs 100

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

Here’s an in-depth look.

1. Vaswani Industries Ltd

   Today, Vaswani Industries demonstrated significant strength in its movement, bouncing back from its 20-day Exponential Moving Average (EMA). Moreover, it broke out to a new 52-week high, indicating bullish momentum. The Relative Strength Index (RSI) stands at a bullish 77.78, signalling strong buying interest. Additionally, there was a notable surge in volume, supporting the price breakout. With the current price at Rs 55.05, surpassing the previous close of Rs 45.9 by 19.93%, the stock shows potential for further upward movement.

2. PC Jeweller Ltd

   PC Jeweller exhibited positive price action today with a green candle and a breakout in price accompanied by increased volume. However, the V-shaped base pattern lacks strength, posing a potential weakness. Resistance levels loom above the current price of Rs 57.5. The RSI at 59.99 suggests moderate bullish sentiment, while a notable volume spike reinforces the breakout scenario.

3. Manaksia Coated Metals & Industries Ltd

   Manaksia Coated Metals & Industries saw a bounce from its previous breakout level, supported by increased volume. However, the base-on-base pattern lacks conviction. With the current price at Rs 40.2, the stock demonstrates a price-volume breakout. The RSI at 58.42 indicates moderate bullish sentiment, accompanied by a notable volume spike.

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.