A strong price volume breakout is seen in these stocks; do you hold them?
On Monday, Nifty 50 started higher on a bullish note, buoyed by strong global trends. In this post, we have highlighted the top stocks that are experiencing a strong price volume breakout.
Nifty 50 began the last week of the month and the year on a strong note at 17,830.4, up from its previous closing of 17,806.8 on Friday. This was due to strong global trends. After digesting significant economic data, leading Wall Street indices closed moderately up on Friday. Wall Street was highly turbulent last week due to fears over the pace of the US Fed's rate hikes and their impact on the economy, perhaps leading to a recession.
Nasdaq Composite climbed by 0.2%, Dow Jones Industrial Average advanced by 0.5%, and S&P 500 rose by 0.6%. On a weekly basis, S&P 500 dropped 0.2%, while Nasdaq Composite fell roughly 2%. Dow Jones Industrial Average, on the other hand, was the outperformer, gaining 0.9% in a week.
Nifty 50 was trading at 17,969.7 at 11:30 a.m., up 162.9 points or 0.91%. Broader market indices outpaced frontline indices. Nifty Mid-Cap 100 index rose 2.43%, while Nifty Small-Cap 100 index jumped 3.37%.
The advance-decline ratio on BSE was positive, with 2765 stocks rising, 691 falling, and 152 staying unchanged. Aside from pharma, all other sectors traded in the green, with PSU banks, media, and metals leading the way.
According to December 23 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 706.84 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 3,398.98 crore in shares. So far in December 2022, FIIs have been net sellers of shares worth Rs 8,469.53 crore, while DIIs have been net purchasers of shares worth Rs 19,096.68 crore.
The following is a list of stocks that have seen a strong price volume breakout.
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