These low-priced stocks witness strong technical breakout

After a volatile Monday, the benchmark indices found their mojo back on Tuesday amid favourable global cues as Nifty is seen trading up by half a per cent and inching close to the 15,800 mark.  

As the market once again turns favourable for trading, many of the participants look for breakout stocks. There is a general perception that retail investors are fond of the trading breakout, which is witnessed in stocks below Rs 100. Hence, in this article, we will cover stock priced below Rs 100 and also, those which have seen breakout.  

So, here is the list:  

20 Microns: The stock has managed to cross its previous swing high gaining an above-average volume. It is seen trading above its 20 and 50-DMA while both of these are in the desired sequence.   

Anant Raj: If we are talking about list breakout, the list would look incomplete without a real estate stock. The stock of Anant Raj got locked at its upper circuit and also, registered a fresh 52-week high. The stock has moved above its prior swing high along with a spurt in volumes. The stock is in long-term additional surveillance measure (LT-ASM) Stage IV.   

Emami Realty: Yet another stock from the realty sector! This stock has seen good momentum in the last couple of days along with above-average volumes while on the weekly chart, it’s on the verge of a cup pattern breakout.   

Khaitan Chemicals & Fertilisers: The stock has surpassed its previous high and registered a new high in today’s session. It got locked at the upper circuit while the volumes recorded are highest-ever seen since June 18.   

Murudeshwar Ceramics: The stock has marked a fresh 52-week high in today’s session and thus, surpassed its prior swing high. Volume activity is quite striking as the stock continued to see above-average volumes for the past two trading sessions. On Tuesday, the stock has seen a three-fold jump in volumes when compared to its average 10-day volume.   

Note: This is not a recommendation and many of these stocks are from the ASM category. Hence, due diligence is solicited before investing or trading in these stocks.