These stocks are experiencing a strong positive breakout
Despite poor global trends, Nifty 50 began the week on a bullish note. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.
Nifty 50 opened the week at 18,288.1, up from its previous closing of 18,269 on Friday. This was despite the lacklustre global cues. However, experts estimate that markets would struggle to maintain their gains in the face of poor global trends. On Friday, leading Wall Street indices fell for the third straight day, as investors worried about the US Federal Reserve's strong attempts to reduce inflation, which would likely send the country into recession.
In overnight trade, Nasdaq Composite sank 0.97%, Dow Jones Industrial Average declined 0.85%, and S&P 500 dropped 1.11%. These indices fell 2.72%, 1.66%, and 2.09%, respectively, on a weekly basis. Asian counterparts fell on Monday, after Wall Street's decline on Friday.
Nifty 50 was trading at 18,356.4 at 12:10 p.m., up 87.4 points or 0.48%. As compared to frontline indices, broader market indices performed mixed. Nifty Mid-Cap 100 index fell 0.17%, while Nifty Small-Cap 100 index rose 0.61%.
The advance-decline ratio was positive on BSE, with 2027 equities rising, 1408 falling, and 189 staying unchanged. Apart from IT and PSU banks, all other sectors traded in the green.
According to December 16 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 1,975.44 crore worth of shares, while Domestic Institutional Investors (DIIs) invested Rs 1,542.5 crore in shares.
The following is a list of equities that have seen a price volume breakout.
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Start Investing Now!
Open Free Demat Account in 5 mins