Top 3 breakout stocks trading below Rs. 100

These 3 stocks have shown substantial gains in Wednesday’s trading sessions, indicating strong bullish activity.

Here’s an in-depth look.

Balaji Telefilms Ltd

Balaji Telefilms has given a volume price breakout on the day chart with the formation of a symmetric triangle chart pattern. The stock is currently trading at Rs 81 and has spiked in volume more than 11 times on Wednesday. The stock price has witnessed a 52-week high breakout supported by a strong relative strength against the Nifty 50 as it is outperforming the Indian benchmark index. Recently, stock prices have also witnessed a bounce from the 50-day EMA. This stock has generated 83.09% of maximum returns for its investors over the 6 months.

Balaji Telefilms Ltd operates as a television content production company.

National Aluminium Co. Ltd

National Aluminium’s stock price has given a price volume breakout by breaking its prior high on Monday. The Relative Strength Index of this chart is trading at the 66 level, and the price bounced from its trendline. This is a promising sign that the stock is rising again; according to its volumes, traders are showing interest in this particular stock. The RSI has recovered from the oversold zone and entered the mild bullish zone, which may add strength to the stock price. National Aluminium has generated 1,483.60% returns in a decade.

National Aluminium Co. Ltd is engaged in the manufacture and sale of metallurgical grade alumina.

Subex Ltd

Subex’s stock broke its narrow-range volume on Wednesday. The stock price has bounced from the lower support, showing that it is respecting the technical levels. The stock has witnessed rising volumes for the last 3 days, more than the daily average. The stock price is showing a strong up move with normal buying. Relative Strength compared to Nifty 50 just broke its downtrend, and moving up may be a sign of outperformance. The stock has given 19.41% returns in 6 months.

Subex Ltd provides business support systems to communications service providers worldwide.

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.