3 stocks under Rs 100 breaking out on charts now
The Indian equity markets are on a strong upward trajectory, fuelled by fundamental tailwinds and technical breakouts. The Bank Nifty recently surged to a fresh all-time high following the RBI’s aggressive 50 basis point rate cut, while the Nifty has reclaimed the psychologically important 25,000 mark. In tandem, the broader markets are also showing strength, with the Nifty Midcap100 hitting new highs for 2025 and the Nifty Smallcap100 gaining momentum.
In this bullish scenario, low-priced stocks are also catching investor’s attention, particularly those showing breakout patterns on technical charts. Here are three stocks, all trading under ₹100, that are breaking out with strong chart structures and renewed buying interest.
1. Suzlon Energy Ltd
Suzlon is one of India’s leading renewable energy solutions providers, primarily focused on wind energy. The company has a strong presence in the domestic market and exports wind turbine components globally. Known for its turnaround story and efforts in debt reduction, Suzlon has increasingly become a favourite among retail investors seeking long-term growth in the green energy space.
Suzlon Daily Chart
After forming a high of ₹86.04 in 2024, the share price of Suzlon entered a gradual downtrend, bottoming out at ₹46.15. This decline wasn’t a sign of weakness but rather a classic re-accumulation phase, as defined by Wyckoff Theory. The structure included key stages like Preliminary Selling, a Selling Climax, and eventually a Shakeout, which cleared weak hands from the stock.
The bounce-back from the Shakeout, followed by the formation of the Last Point of Support (LPS), led to a decisive breakout. The zone of ₹59–₹61 now acts as a potential demand area, and bulls seem to be retaking control. Hence, Suzlon is the first potential stock on our watchlist.
2. Jaiprakash Power Ventures Ltd (JP Power)
JP Power is part of the Jaypee Group and operates thermal and hydroelectric power plants across India. Though the company has faced financial headwinds, it remains active in restructuring and consolidating its operations. It continues to draw attention from value investors and momentum traders alike.
JP Power Daily Chart
The stock price of JP Power surged nearly 9% in the previous session, breaking out of a textbook Double Bottom pattern, an established bullish reversal pattern that forms after a sustained downtrend and indicates a change in market sentiment.
A surge in volume backed the breakout above the neckline, signalling institutional interest and strong buying momentum.
Additionally, the price has moved above the 200-day Exponential Moving Average (200DEMA), a critical long-term trend indicator, suggesting the beginning of a potential uptrend.
3. IDFC First Bank
IDFC First Bank is a private sector bank in India, born out of the merger between IDFC Bank and Capital First. The bank focuses on retail banking and asset-backed lending. It has made significant progress in improving its CASA ratio and asset quality, making it an emerging player in the banking space.
IDFC First Bank Daily Chart
The stock price of IDFC First Bank has broken out above a falling channel pattern on the daily chart, ending the previous sequence of lower highs and lower lows. This marks a shift in momentum and the beginning of a bullish phase.
Post breakout, the price has found strong support at the 200DEMA, indicating buyers are stepping in on dips. Adding to this, the RSI (Relative Strength Index) has also established a base above 50, a key bullish signal that validates the strength of the current move. The confluence of these technical factors makes IDFC First Bank a potential candidate for further upside.
Are you adding these stocks to your watchlist?
While broader markets remain buoyant, Suzlon, JP Power, and IDFC First Bank stocks show distinct technical setups that suggest strong near-to-medium-term momentum. Trading under ₹100, they offer an attractive entry point for investors and traders alike, provided one manages risk appropriately.
Disclaimer
Note: We have relied on data from http://www.definedgesecurities.com throughout this article. Only in cases where the data was unavailable have we used an alternate but widely used and accepted source of information.
The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
Brijesh Bhatia has over 18 years of experience in India’s financial markets as a trader and technical analyst. He has worked with UTI, Asit C Mehta, and Edelweiss Securities. Presently, he is an analyst at Definedge.
Disclosure: The writer and his dependents do not hold the Stocks discussed in this article. However, clients of Definedge may or may not own these securities.
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