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

5paisa Research Team

Last Updated: 12th January 2023 - 09:35 am

In the face of strong global trends, Nifty 50 began flat with a bullish bias. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.

Nifty 50 began flat with a bullish bias at 17,924.25 on Wednesday, compared to its previous closing of 17,914.15. This was due to strong global signals. Leading Wall Street indices concluded in the green as Jerome Powell did not comment on interest rate policy during his speech in Sweden.

In overnight trade, Nasdaq Composite gained 1.01%, S&P 500 added 0.7%, and the Dow Jones climbed 0.56%. Asian markets were trading in the green, mirroring the overnight activity on Wall Street.

Nifty 50 was trading flat with negative bias at 17,900.5 at 11:10 a.m., down by 13.65 points or 0.08%. When compared to frontline indices, broad market indices performed mixed. Nifty Mid-Cap 100 index declined by 0.1%, while Nifty Small-Cap 100 index increased by 0.36%.

The advance-decline ratio on the BSE was positive, with 1920 stocks rising, 1293 falling, and 168 staying unchanged. Except for pharma, FMCG, and automobile, all other sectors traded in the green.

According to January 10 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 2,109.34 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 1,806.62 crore in shares. FIIs sold shares worth Rs 10,125.91 crore on year to date (YTD) basis, while DIIs purchased shares worth Rs 6,286.99 crore.

The following is a list of stocks that have seen a strong positive breakout.

Stock Name	CMP (Rs)	Change (%)	Volume
Hindalco Industries Ltd.	486.4	1.9	45,14,939
Max Financial Services Ltd.	790.0	2.6	17,55,188
Bharat Petroleum Corporation Ltd.	354.5	2.1	22,34,907
Infosys Ltd.	1,485.1	1.0	24,82,972
Tata Motors Ltd.	416.3	0.8	99,14,634
Adani Wilmar Ltd.	579.8	1.5	11,03,290
Tata Consultancy Services Ltd.	3,328.0	1.3	12,03,254
Jindal Steel & Power Ltd.	604.4	0.9	15,79,581
TVS Electronics Ltd.	395.1	5.7	5,39,131
Hindalco Industries Ltd.	486.4	1.9	45,14,939

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