Watch out for these strong breakout stocks on Monday

Watch out for these strong breakout stocks on Monday

by 5paisa Research Team Last Updated: Feb 27, 2023 - 10:32 am 231 Views

Nifty 50 started lower on the back of negative global trends. In this post, watch out for these strong breakout stocks as on February 27.

Nifty 50 began the new week down at 17,428.6, compared to its Friday closing of 17,465.8. This was due to weak global signals. US Fed's preferred inflation index, personal consumption expenditures, rose more than anticipated on Friday, sending key Wall Street indices down.

Global Markets   

The cost of goods and services in the United States increased by 0.6% in January, according to the personal consumption expenditures price index. The core index, which the US Fed favours as an inflation indicator, rose 0.6% in January and is up 4.7% year on year.

On Friday, Nasdaq Composite fell 1.69%, Dow Jones Industrial Average sank 1.02%, and S&P 500 tumbled 1.05%. Nonetheless, at the time of writing, their respective futures were trading in the green.

Asian market indices were trading in the red on Monday, mirroring Wall Street's Friday performance, with South Korea's KOSPI and Australia's S&P ASX 200 index suffering the most.

Domestic Markets   

Nifty 50 was trading at 17,387.8 at 9:48 a.m., down 78 points or 0.45%. Frontline indices, on the other hand, outperformed broader market indices. Nifty Mid-Cap 100 index dropped 0.97% and Nifty Small-Cap 100 index plunged 1.16%.

Market Statistics 

The advance-decline ratio on the BSE was negative, with 936 stocks rising, 1960 falling, and 177 staying unchanged. Except for banks, financial services, and realty, all other sectors were trading in the red.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of February 24. Foreign Institutional Investors (FIIs) sold shares worth Rs 1,470.34 crore. Domestic Institutional Investors (DIIs) invested Rs 1,400.98 crore in shares.

Breakout Stocks to Watch Out for on February 27

Stock Name  

CMP (Rs)  

Change (%)  


Olectra Greentech Ltd.  




One 97 Communications Ltd.  




Macrotech Developers Ltd.  




HDFC Bank Ltd.  




Bharat Dynamics Ltd.  




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