These stocks are witnessing a solid positive breakout; do you hold them?
Nifty 50 began lower following a mixed performance on Wall Street. In this post, we have highlighted the top stocks that are witnessing a solid positive breakout.
On Wednesday, Nifty 50 began lower at 18,093.35 compared to its previous closing of 18,118.3. This is due to the conflicting global cues. The leading Wall Street indices concluded neutral on Tuesday, after a string of key earnings reports. In overnight trade, Nasdaq Composite declined 0.27%, Dow Jones Industrial Average climbed 0.31%, and S&P 500 ended flat with a negative bias (0.07%).
Despite Wall Street's mixed performance overnight, most Asian market indices are trading higher. All but Australia's S&P ASX 200 index were trading in the green, with Hong Kong's Hang Seng leading the way. S&P ASX 200 index is under pressure as Australia's Consumer Price Index (CPI) climbs faster than predicted, indicating economic strain.
Nifty 50 was trading at 17,951.9 at 10:15 a.m., down 166.4 points or 0.92%. Frontline indices, on the other hand, outpaced broader market indices. Nifty Mid-Cap 100 index is down 1.32%, while Nifty Small-Cap 100 index is down 1.13%.
The advance-decline ratio on the BSE was strongly negative, with 967 stocks rising, 2162 falling, and 117 staying unchanged. On sectoral front, all the sectors traded in red with banking sector suffering the most.
According to January 25 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 760.51 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 1,144.75 crore in shares.
The stocks listed below are witnessing a solid positive breakout.
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