These stocks are experiencing a solid positive breakout

These stocks are experiencing a solid positive breakout

Indian Market
by 5paisa Research Team Last Updated: 2022-12-16T12:30:23+05:30

Nifty began lower on a bearish tone on the back of poor global trends. In this post, we have highlighted the top stocks that are experiencing a solid positive breakout. 

Nifty began lower on a sombre note at 18,319.1, compared to its previous closing of 18,414.9. This was due to a lacklustre of global trends. On Thursday, leading Wall Street indices had their largest single-day percentage decline since November 9. This was because of increasing concerns that the US Fed's effort to control inflation would likely lead to a recession.

In overnight trade, Nasdaq Composite fell 3.23%, Dow Jones Industrial Average plummeted 2.25%, and S&P 500 declined 2.49%. The European Central Bank and the Bank of England hiked interest rates by 50 basis points in response to global recession fears.

This suggests that the Fed will continue to raise interest rates in order to keep inflation under control. In response to the overnight drop on Wall Street and hawkish indications from central banks across the world, Asian markets mainly declined on Friday.

Nifty 50 was trading at 18,335.8 at 10:35 a.m., down 79.1 points or 0.43%. The broad market indices were underperforming the frontline indices. Nifty Mid-Cap 100 index fell 1.37%, while the Nifty Small-Cap 100 index dropped 0.56%.

The advance-decline ratio on the BSE was negative, with 1177 stocks rising, 2027 falling, and 145 staying unchanged. On a sectoral front, all sectors were trading in the red.

According to December 15 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold shares worth Rs 710.74 crore. Domestic Institutional Investors (DIIs) purchased shares to the tune of Rs 260.92 crore.

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

Stock Name  

Current Market Price (Rs)  

Change (%)  

Volume  

Deepak Fertilizers and Petrochemicals Corporation Ltd.  

857.3  

5.6  

10,67,564  

Tata Motors Ltd.  

419.9  

0.8  

18,84,874  

Reliance Industries Ltd.  

2,605.2  

1.0  

10,28,932  

PB Fintech Ltd.  

465.6  

2.7  

6,94,661  

ICICI Securities Ltd.  

513.8  

1.0  

5,00,987  

 

 


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