Check out these stocks with strong technical setup

Check out these stocks with strong technical setup

by 5paisa Research Team Last Updated: 2022-11-01T18:18:48+05:30

Nifty 50 continued yesterday’s rally and closed above the 18,100 mark. This can be attributed to strong global cues. In this article, we have listed the top stocks with a strong technical setup.

Nifty 50 continues yesterday’s rally and opened today’s session at 18,130.7 as against its previous close of 18,012.2. Moreover, for most of the day, it traded above the 18,100 mark and closed at 18,145.4. This can very well be accredited to strong global cues. On Monday, key Wall Street indices ended lower, however, ended the month with strong gains.

This was a result of hopes that the US Fed would tone down its aggressive stance on interest rate hikes. All eyes are glued on the central bank’s policy meetings. Nasdaq Composite nosedived 1.03%, Dow Jones ended down by 0.39%, while S&P 500 slumped by 0.75%. However, in the month of October 2022, Nasdaq Composite, S&P 500 and Dow Jones soared 3.9%, 8% and 13.95%, respectively.

At the closing bell, Nifty 50 ended at 18,145.4, up by 133.2 points or 0.74%. Broader markets performed mixed against frontline indices with mid-caps outperforming large-caps and small-caps. Nifty Mid-Cap 100 index was up 0.87% and the Nifty Small-Cap 100 index gained 0.22%.

According to the data as on October 31, FIIs were net buyers while DIIs were net sellers. Foreign Institutional Investors (FII) bought shares worth Rs 4,178.61 crore. Domestic Institutional Investors (DII) sold Rs 1,107.1 crore worth of shares. In the month of October 2022, FIIs were net sellers, while DIIs were net buyers. FIIs sold shares worth Rs 489.06 crore and DIIs bought shares worth Rs 9,276.97 crore.

Following is the list of stocks having a strong technical setup.

Stock Name

CMP (Rs)

Change (%)

Volume

Adani Wilmar Ltd.

716.5

6.6

73,86,356

Adani Enterprises Ltd.

3,575.7

6.8

43,93,335

Varun Beverages Ltd.

1,107.0

5.5

50,44,196

FSN E-Commerce Ventures Ltd.

1,185.4

2.8

1,07,38,802

AU Small Finance Bank

613.6

4.1

32,50,976

 

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