These stocks are experiencing a strong positive breakout

These stocks are experiencing a strong positive breakout

Indian Market
by 5paisa Research Team Last Updated: 2022-12-14T13:35:06+05:30

Nifty 50 had an upbeat start on Wednesday, buoyed by positive global trends. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.

Nifty 50 started today's session at 18,671.25, up from its previous closing of 18,608. This was due to positive global signals. Today's opening came ahead of the announcement of the results of the US FOMC's policy meeting later today. The prognosis for the US economy and Chair Jerome Powell's press conference will come next.

On an annual basis, the US CPI inflation reading for November was 7.1%, which was lower than the 7.3% expected. This bolstered sentiments and expectations that the Fed's aggressive rate rises would be scaled back. As a consequence, leading Wall Street indices ended in the green. In overnight trade, Nasdaq Composite climbed 1.01%, Dow Jones Industrial Average surged 0.3%, and S&P 500 rose 0.73%.

Nifty 50 was trading at 18,674.8 at 12:38 p.m., up 66.8 points or 0.4%. Broader market indices were beating frontline indices. Nifty Mid-Cap 100 index rose 0.65%, while the Nifty Small-Cap 100 index gained 0.74%.

According to December 13 statistics, both FIIs and DIIs were net purchasers. Foreign Institutional Investors (FIIs) bought shares to the tune of Rs 619.92 crore for shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 36.75 crore.

The following is a list of stocks witnessing a strong positive breakout.

Stock Name  

Current Market Price (Rs)  

Change (%)  

Volume  

PNB Housing Finance Ltd.  

477.1  

7.7  

31,17,797  

Hindalco Industries Ltd.  

470.0  

2.6  

41,50,720  

Raymond Ltd.  

1,484.0  

5.2  

14,11,956  

Fusion Micro Finance Ltd.  

405.4  

3.7  

17,85,370  

New Delhi Television Ltd.  

375.9  

4.9  

9,81,440  

LIC Housing Finance Ltd.  

420.4  

2.3  

13,96,202  

Intellect Design Arena Ltd.  

439.6  

2.5  

10,07,352  

Can Fin Homes Ltd.  

552.1  

2.3  

10,69,398  

DLF Ltd.  

407.8  

1.9  

15,03,199  

State Bank of India  

623.8  

1.1  

75,59,997 

 


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