A powerful breakout is seen in these stocks; do you own them?

A powerful breakout is seen in these stocks; do you own them?

Indian Market
by 5paisa Research Team Last Updated: 2022-10-31T14:09:23+05:30

On the last trading day of the month, Nifty 50 opened higher, with a gap-up opening. In this post, we have highlighted the top stocks that are experiencing a powerful breakout.

On Monday, the Nifty 50 began higher at 17,910.2, with a gap-up opening. This was due to strong global cues. Leading Wall Street indices rallied on Friday as a result of positive economic data and an upbeat earnings outlook. In addition, the Fed's policy meeting is scheduled for this week.

In overnight trade, Nasdaq Composite gained 2.87%, while S&P 500 increased 2.46%. On a weekly basis, these two indices gained for the second week in a row. Dow Jones soared 2.59%, marking its greatest weekly rise since May. Asian indices climbed on Monday, ahead of several central banks' interest rate decisions this week.

In October 2022, China's industrial activity unexpectedly declined. The Purchasing Manager's Index (PMI) fell short of expectations owing to interruptions caused by a fresh Covid-induced lockdown and a decline in global demand for exports.

Nifty 50 was trading at 17,967.8 at 11:50 a.m., up 181 points or 1.02%. Frontline indices outscored market indexes overall. Nifty Mid-Cap 100 index was up 0.84%, while Nifty Small-Cap 100 index was down 0.06%.

Oil dropped amid fears that China's Covid restrictions might reduce demand. Brent crude was down 0.53% to USD 93.25 per barrel, while WTI Futures declined to USD 87.6 per barrel. Natural gas futures, on the other hand, ascended by 4%.

The following is a list of top stocks that are experiencing a powerful breakout.

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

Mahindra & Mahindra Ltd. 

1,347.0 

2.7 

21,24,896 

Sun Pharmaceuticals Industries Ltd. 

1,019.3 

3.0 

16,89,594 

Life Insurance Corporation of India 

606.7 

2.4 

19,17,901 

Max Healthcare Institute Ltd. 

446.1 

3.7 

14,02,351 

Container Corporation of India Ltd. 

806.2 

2.6 

15,26,770 

Bharti Airtel Ltd. 

830.2 

1.6 

26,09,297 

 

 

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