2 Breakout Shares Under Rs 20 that went Against the Grain today!

  • Stock Market Analysis
  • Editors Pick

The last day of the week didn’t end well for the bulls. There was a decent profit booking seen across all the sectors with the Nifty 50 index closing 0.61% down at 18,496.6 which totaled to around 1.08% correction for the week.

Despite bears having an upper hand today, some high volatile small caps went against the grain and cheered investors with a breakout on the charts. Here’s a list of 2 such stocks.

Yes Bank Limited

Yes Bank Ltd (NS: YESB ) is a midcap private lender with a market capitalization of INR 43,723 crores. The session was not good for many banks, although private banks outperformed their public counterparts. The share price of Yes Bank surged by a massive 10.99% to INR 19.7 which is the highest weekly closing since July 2020 and completed a beautiful rounding bottom reversal pattern on the weekly chart.

Weekly chart of Yes Bank with volume bars at the bottom

Image Description: Weekly chart of Yes Bank with volume bars at the bottom 

Image Source: Investing.com

The catalyst for the bolstering rally was the RBI’s nod to give a go-ahead for capital raising. Friday’s volume also spiked to 1.31 billion shares which is an 856% surge over the 10-day average of 137 million shares. Looking at the weekly chart, it seems like the worst is over for Yes Bank, and now it might show a rate of INR 31.5 to INR 32 on the screen, but obviously, not immediately.

Lloyds (LON: LLOY ) Steels Industries Limited  

The second stock that defied gravity today was Lloyds Steels Industries Ltd (NS: LSIL ) which is a penny stock, having a market capitalization of INR 1,290 crores. Today, there had been an unexpected price and volume spurt seen, with the price rallying 11.11% to INR 14.5 which is the highest closing since September 2022. The stock sliced through the trendline resistance as well as the previous peak, both indicating a high probability of the continuation of the rally.

 Daily chart of Lloyds Steel Industries with volume bars at the bottom

Image Description: Daily chart of Lloyds Steels Industries with volume bars at the bottom 

Image Source: Investing.com

The volume figure jumped to 18.98 million shares on the NSE, which is over a 1,000% increase over the 10-day average of 1.71 million shares. There is a clear resistance seen around INR 18, which has worked quite well in the recent past and hence should be watched carefully by long holders. But there seems to be no hurdle between this resistance and the CMP.

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  • sunil chhabra @sunil chhabra
    What do you think of Suzlon and Vodafone idea?
    Like 0
  • Devdas Darpelli @Devdas Darpelli
    Great article. Much appreciated 👍
    Like 0
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thanks Devdas :)
      Like 3
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  • Naresh Kumaar @Naresh Kumaar
    Thanks for sharing
    Like 2
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Anytime! Naresh :)
      Like 0
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  • Girish Kumar @Girish Kumar
    great
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thank you Girish :)
      Like 0
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  • susanta samanta @susanta samanta
    nice
    Like 0
  • Suhas Arnav @Suhas Arnav
    I m sold my yesbank shares today n now wait for some down side really in that for again purchase.
    Like 0
  • namami ghosh @namami ghosh
    learning as usual...
    Like 2
  • Kavita Goel @Kavita Goel
    Nice outlook
    Like 2
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thanks Kavita :)
      Like 0
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  • Brijlal Brijlal @Brijlal Brijlal
    entery price take profit?
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      You decide, Brijlal :)
      Like 0
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  • pushpendra pareek @pushpendra pareek
    anything for idbi bank
    Like 0
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Hi Pushpendra, I guess the trend is still positive but that weekly gravestone doji is not a good sign.
      Like 0
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  • Nirav Gajjar @Nirav Gajjar
    sir suggest technical analysis for stock REC & NMDC
    Like 0
    • Manpreet Singh @Manpreet Singh
      buy above 2600 and target 2750 with sl below 2582
      Like 0
    • Manpreet Singh @Manpreet Singh
      buy above 2600 and target 2750 with sl below 2582
      Like 0
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Hi Nirav, both are good dividend stocks but trading too high to make a new position, acc. to me.
      Like 0
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  • Jeetendra Dhaked @Jeetendra Dhaked
    good
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thanks Jeetendra :)
      Like 0
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  • Pushpendra Singh Rajawat @Pushpendra Singh Rajawat
    👌👌👏👏👍👍
    Like 1

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