These stocks are showcasing a strong technical setup; do you hold them?

These stocks are showcasing a strong technical setup; do you hold them?

Indian Market
by 5paisa Research Team Last Updated: 2022-12-09T11:25:40+05:30

Nifty 50 witnessed a flat opening amid mixed global cues. In this article, we would be listing top stocks witnessing a strong technical setup for December 8.

Nifty 50 opened today’s session on a flat note with a positive bias at 18,570.85 as against its previous close of 18,560.5. This was a result of mixed global cues. At 10:00 a.m., Nifty 50 made a day’s high of 18,625. On Wednesday, key Wall Street indices ended flat amid investors gauging the US Fed’s monetary tightening intensity and its impact on the economy.

Nasdaq Composite ended down by 0.51% and S&P 500 tumbled by 0.19%. Both these indices ended in red for the fourth and fifth successive sessions, respectively. Dow Jones, on the other hand, ended on a flat note, up by 0.01%. On Thursday, Asian markets traded mixed as investors anticipate that the US Fed might hike interest rates at a faster pace.

At 11:40 a.m., Nifty 50 was trading flat at 18,578.5, up by 18 points or 0.1%. Broader markets are outperforming the frontline indices. Nifty Mid-Cap 100 index was up 0.3% and the Nifty Small-Cap 100 index gained 0.28%.

On BSE, the advance-decline ratio was slightly positive with 1865 stocks advancing, 1403 declining and 163 remaining unchanged. On the sectoral front, apart from pharma, realty, FMCG and IT, all sectors traded in the green.

According to the data as on December 7, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 1,241.87 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 388.85 crore.

Following is the list of top stocks witnessing a strong technical setup. 

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

JK Lakshmi Cement Ltd. 

850.1 

5.9 

24,61,647 

KEC International Ltd. 

462.0 

6.4 

18,09,682 

Hikal Ltd. 

401.8 

4.1 

24,13,321 

Axis Bank Ltd. 

937.2 

2.5 

67,87,417 

Sharda Cropchem Ltd. 

502.5 

5.5 

16,43,209 

 


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