A strong breakthrough seen in these stocks; should you consider buying them?

Nifty 50 opened flat amid mixed global trends. In this post, we will be highlighting top stocks that are experiencing a strong breakout.

Nifty 50 began the day flat amid ambiguous global trends. Nevertheless, it is still above the critical level of 17,800. Wall Street was subdued on Tuesday, with major US indices finishing mixed.

This might be due to strong retail results but weakness in technology stocks. Furthermore, manufacturing output (0.7 per cent) in the United States topped street forecasts in July, following a contraction of 0.4 per cent in June.

Nasdaq Composite fell 0.19 per cent, S&P 500 rose 0.19 per cent, and Dow Jones rose 0.71 per cent. Following the release of good retail statistics, most Asian markets rose on Wednesday.

Nifty 50 was trading at 17,924.85, up 99.60 points, at the time of writing (0.56 per cent). Broader market indices outpaced frontline indices. Nifty Mid-Cap 100 index was up 0.67 per cent, while the Nifty Small-Cap 100 index was up 0.77 per cent.

All sectors traded in the green, with the media, information technology, and consumer goods sectors leading the way. Despite trading in the green, sectors such as PSU banks, automobiles, and metals lagged other sectors. Having said that, the market breadth was extremely good, with 2,051 stocks rising, 1,176 falling, and 149 remaining unchanged.

On August 16, FIIs were net buyers while DIIs were net sellers, according to preliminary data. Foreign Institutional Investors (FII) purchased shares worth Rs 1,376.84 crore, while DIIs sold stocks worth Rs 136.24 crore. There was not a single trading day this month where FIIs were net sellers.

The following table contains the curated list of stocks that have seen a strong breakout.