These stocks are experiencing a strong positive breakout; do you hold them?
Despite poor global trends, the Nifty 50 began flat with a bullish bias. It will be fascinating to watch where it goes during the session. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.
On the penultimate trading session of the week, the Nifty 50 began flat with a bullish bias at 18,115.6, compared to its previous closing of 18,107.85. This was despite the fact that global cues were lacking. It will be fascinating to watch where it goes throughout the session.
The major Wall Street indices closed down on Thursday, owing to weaker-than-expected weekly jobless claims figures. This indicates that the labour market is robust enough. Fears grew that the US Fed would aggressively raise interest rates, sending the US economy into a recession.
In overnight trade, Nasdaq Composite sank 0.96%, while Dow Jones Industrial Average and S&P 500 both plummeted 0.76%. However, at the time of writing, Dow and Nasdaq 100 futures were trading in the green. Asian market indices were trading in the green as the US dollar plunged to its lowest level since May.
Nifty 50 was trading at 18,103.75 at 11:20 a.m., down 4.1 points or 0.02%. Broader market indices, however, are trading in line with the frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index are both trading flat at 0.01% and have a negative bias.
The advance-decline ratio on the BSE was marginally positive, with 1825 stocks rising, 1468 falling, and 158 staying unchanged. Aside from sectors such as banks, financial services, and IT, all other sectors traded in the red.
According to January 19 statistics, FIIs were net purchasers while DIIs were net sellers. Foreign Institutional Investors (FIIs) invested Rs 399.98 crore in shares. Domestic Institutional Investors (DIIs) sold shares worth Rs 128.96 crore.
The following is a list of stocks that have seen a strong positive breakout.
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