A strong positive breakout is seen in these stocks; do you hold them?

With mixed global trends, Nifty 50 started the fresh week flat. This post identifies top stocks that are experiencing a strong positive breakout.

On Monday, Nifty 50 began flat with a bullish bias at 17,859.1 compared to its Friday closing of 17,856.5. This was due to mixed global trends. The leading Wall Street indices finished neutral on Friday, with the looming shadow of an aggressive rate rise by the US Federal Reserve. This is because the United States added 0.5 million jobs last month, beating analysts' estimates. Furthermore, the unemployment rate was 3.4 per cent, the lowest since 1969.

On Friday, Nasdaq Composite fell 0.61 per cent. Dow Jones Industrial Average and S&P 500, on the other hand, rose 0.5 per cent and 0.22 per cent, respectively. For the first time since December 2022, three indices ended the week down. Nasdaq Composite plunged 2.4 per cent, while Dow Jones Industrial Average dipped 0.2 per cent. Asian indices largely traded lower, mirroring global trends. Except for China's SSE Composite index, all others were trading in the red.

Nifty 50 was trading at 17,758.8, down 97.7 points or 0.55 per cent at 11:40 a.m. Frontline indices, on the other hand, outpaced broader market indices. Nifty Mid-Cap 100 index declined 1.36 per cent and Nifty Small-Cap 100 index fell 1.25 per cent.

The advance-decline ratio on the BSE was negative, with 1285 stocks rising, 2102 falling, and 177 staying unchanged. On sectoral front, all the sectors were trading in red with PSU banks, media and IT suffering the most.

FIIs were net buyers, while DIIs were net sellers, according to statistics as of February 10. Foreign Institutional Investors (FIIs) invested Rs 1,458.02 crore in shares. Domestic Institutional Investors (DIIs) sold shares worth Rs 291.34 crore.

The following is a list of stocks that have seen a strong positive breakout.