A solid positive breakout seen in these stocks; do you own them?

A solid positive breakout seen in these stocks; do you own them?

Indian Market
by 5paisa Research Team Last Updated: 2022-10-19T12:22:16+05:30

Nifty 50 began higher on the back of strong global trends. In this post, we have identified solid stocks that are experiencing a positive breakout.

Nifty 50 index began higher at 17,568.15 compared to its previous closing of 17,486.95. This was due to strong global trends. In the face of positive results and better than expected factory data on Tuesday, leading Wall Street indices moved higher as treasury yields decreased.

In overnight trade, Nasdaq Composite gained 0.9%, Dow Jones jumped 1.12% and S&P 500 ascended 1.14%. Following the lead of global trends, Asian counterparts traded higher on Wednesday.

Nifty 50 was trading at 17,552.2 at 12:05 p.m., up 65.25 points or 0.37%. The broad market indices performed on similar lines to the frontline indices. Nifty Mid-Cap 100 index was up 0.19%, while Nifty Small-Cap index climbed 0.23%.

The advance-decline ratio was positive on BSE, with 1,856 stocks ascending, 1,410 falling and 144 staying unchanged. Except for media, IT, pharma and PSU banks, all other sectors traded in green.

FIIs were net sellers, while DIIs were net buyers, according to statistics as of October 18. Foreign Institutional Investors (FII) sold Rs 153.4 crore worth of shares. Domestic Institutional Investors (DII) purchased shares worth Rs 2,084.71 crore.

The following is a list of stocks that are experiencing solid positive breakout.

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

Reliance Industries Ltd. 

2,510.2 

2.4 

59,14,717 

DLF Ltd. 

374.7 

2.5 

35,00,451 

Axis Bank Ltd. 

833.0 

2.0 

60,29,678 

Bharat Dynamics Ltd. 

915.3 

2.6 

25,52,825 

Indian Railway Catering & Tourism Corporation Ltd. 

744.9 

1.9 

45,35,851 

Housing Development Finance Corporation Ltd. 

2,377.6 

2.0 

28,71,731 

PNB Housing Finance Ltd. 

411.4 

4.5 

11,62,006 

Sona BLW Precision Forgings Ltd. 

481.5 

3.7 

10,07,306 

Allcargo Logistics Ltd. 

425.9 

3.9 

9,63,538 

Adani Wilmar Ltd. 

703.0 

1.5 

24,73,043 

 


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