A strong positive breakout is seen in these stocks; do you hold any?

A strong positive breakout is seen in these stocks; do you hold any?

Indian Market
by 5paisa Research Team Last Updated: 2022-10-28T20:11:42+05:30

Despite dismal global cues and Asian markets following suit, Nifty 50 started flat with a bullish bias. In this post, we have curated a list of top stocks that are experiencing a strong positive breakout.

Despite poor global trends, Nifty 50 opened flat with a bullish bias at 17,756.4, compared to its previous close of 17,736.95. Leading Wall Street indices concluded mixed on Thursday as a consequence of strong economic data and a mixed earnings report.

Tech heavyweights tumbled as a result of weak results and forecasts, putting pressure on Nasdaq Composite and S&P 500 indices. Stocks such as Meta and Amazon plummeted by double digits as a result of dismal quarterly earnings and lacklustre expectations.

In overnight trade, Nasdaq Composite plunged 1.63%, Dow Jones climbed 0.6%, and S&P 500 declined 0.6%. Even Asian equity indices followed suit and had a shaky start. This might very well be linked to mixed quarterly results and weaker Wall Street cues.

Nifty 50 was trading at 17,782.9, up 45.95 points or 0.26%, at 11:15 a.m. Frontline indices outscored broader market indices. Nifty Mid-Cap 100 index was down 0.23%, while the Nifty Small-Cap 100 index fell 0.46%.

According to October 28 statistics, FIIs were net purchasers while DIIs were net sellers. Foreign Institutional Investors (FII) bought shares worth Rs 2,818.4 crore. Domestic Institutional Investors (DII) sold Rs 1,580.1 crore worth of shares.

On a month-to-date (MTD) basis, FIIs have been net sellers while DIIs have been net purchasers. FIIs sold Rs 6,236.42 crore worth of shares, while DIIs bought shares worth Rs 10,997.44 crore on an MTD basis.

The following is a list of top stocks experiencing a strong positive breakout. 

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

Reliance Industries Ltd. 

2,502.3 

2.1 

32,71,338 

Gokaldas Exports Ltd. 

382.7 

5.7 

15,87,612 

Adani Ports and Special Economic Zone Ltd. 

829.5 

1.0 

35,89,501 

Latent View Analytics Ltd. 

402.5 

3.3 

11,39,523 

Vaibhav Global Ltd. 

363.0 

6.1 

10,06,907 

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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