These stocks are experiencing a solid price volume breakout; should you invest?

These stocks are experiencing a solid price volume breakout; should you invest?

by 5paisa Research Team Last Updated: Feb 20, 2023 - 12:16 pm 1.1k Views
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During the first trading session of the new week, Nifty 50 began flat with a bullish bias amid mixed global trends. This post identifies top stocks that are experiencing a solid price volume breakout.

In comparison to its closing price on Friday of 17,944.2, the Nifty 50 began flat with a bullish bias on Monday at 17,965.55. This occurred amid conflicting global cues. On Friday, leading Wall Street indices finished mainly down as big tech companies like Nvidia and Microsoft were under pressure. This was owing to fears about inflation and the possibility that good economic statistics might encourage the US Fed to maintain its rate-hiking stance.

Global Markets

On Friday, Nasdaq Composite dropped 0.58%, Dow Jones Industrial Average climbed 0.39%, and S&P 500 fell 0.28%. At the time of writing, their respective futures were trading in the flat to negative territory ahead of the holiday. China's SSE Composite index and Hong Kong's Hang Seng led the way as Asian market indices largely traded flat to positive on Monday.

Domestic Markets

Nifty 50 was trading at 17,936.1 at 11:40 a.m., down 8.1 points or 0.05%. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap index jumped 0.22% and the Nifty Small-Cap index gained 0.13%.

Market Statistics

The advance-decline ratio on the BSE was unfavourable, with 1501 stocks rising, 1822 falling, and 192 staying unchanged. Except for IT, automobile, and FMCG, all other sectors were trading in red.

FIIs and DIIs were net sellers on February 17, according to statistics. A total of Rs 624.61 crore worth of shares were sold by foreign institutional investors (FIIs). Domestic Institutional Investors (DIIs) sold Rs 85.29 crore in shares. FIIs have sold shares worth Rs 1,408.36 crore while DIIs have purchased shares worth Rs 9,188.15 crore so far this month.

Breakout Stocks to Watch Out for Today

Stock Name  

CMP (Rs)  

Change (%)  

Volume  

Sumitomo Chemical India Ltd.  

461.5  

7.8  

15,53,187  

Sonata Software Ltd.  

738.8  

8.7  

13,64,166  

Bharat Dynamics Ltd.  

902.0  

3.4  

22,29,704  

Happiest Minds Technologies Ltd.  

913.5  

7.4  

10,08,309  

Tech Mahindra Ltd.  

1,150.6  

1.9  

28,55,165 

 

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