A strong negative breakout is seen in these stocks; do you own them?

Nifty 50 started the session weaker due to negative global trends. Continue reading to learn more about stocks with a strong negative breakout.

On the back of negative global trends, Nifty 50 started the week weaker at 17,102.1. The leading Wall Street indices fell sharply on a weekly, monthly, and quarterly basis on Friday. This might be related to greater inflation, rising interest rates, and an impending recession.

Nasdaq Composite and S&P 500 both declined close to 1.51 per cent on Friday, while Dow Jones dropped 1.71 per cent. All three indices sank 10.5 per cent, 9.3 per cent, and 8.8 per cent on a weekly basis, respectively. Asian indices slumped in response to the poor performance of Wall Street indices last week.

Nifty 50 was trading at 16,963.05 at 11:10 am., down 131.3 points (0.77 per cent). Broader market indices outpaced frontline indices. Nifty Mid-Cap 100 index fell 0.15 per cent, while the Nifty Small-Cap 100 index climbed 0.05 per cent.

According to September 30 statistics, FIIs were net sellers, while DIIs were net purchasers. Foreign Institutional Investors (FII) sold Rs 1,565.31 crore worth of shares.

Domestic Institutional Investors (DII) bought shares worth Rs 3,245.45 crore. In September 2022, FIIs were net sellers, selling shares worth Rs 5,164.73 crore, while DIIs were net buys, purchasing shares worth Rs 6,407.18 crore.

The stocks listed below are experiencing a strong negative breakout.