A strong technical setup is seen in these stocks; do you hold them?

Nifty 50 had a massive gap up opening on strong global trends. In this post, we have identified a few stocks with solid technical setup experiencing price volume breakout.

Nifty 50 opened at 17,438.75, a gap-up from the previous close of 17,311.8. This was due to strong global trends. Leading Wall Street indices soared on Monday as Britain's newly appointed finance minister, Jeremy Hunt, proposed a significant change to the country's fiscal strategy.

Hunt vetoed most of the prior prime minister's economic initiatives, which had caused the upheaval. Even Bank of America's strong earnings boosted market sentiments.

In overnight trade, Nasdaq Composite increased by 3.43 per cent, Dow Jones climbed by 1.86 per cent, and S&P 500 ascended by 2.65 per cent. Following the lead of the Wall Street indices, even Asian indices jumped on Tuesday.

Nifty 50 was trading at 17,467.2 at 11:42 a.m., up 155.4 points or 0.9 per cent. Frontline indices outpaced broader market indices. Nifty Mid-Cap 100 index was up 0.54 per cent, while the Nifty Small-Cap 100 index was up 0.53 per cent.

Oil surged on Tuesday as the dollar fell and traders anticipated constriction of crude supplies amid mounting worries of a global economic downturn. Brent crude was up 0.17 per cent to USD 91.8 per barrel, while WTI futures were trading at USD 84.7 per barrel. Natural Gas futures, on the flip side, fell by 0.52 per cent.

FIIs were net sellers, while DIIs were net purchasers, according to data issued on October 17. Foreign Institutional Investors (FII) sold shares worth Rs 372.03 crore. Domestic Institutional Investors (FII) bought Rs 1,582.24 crore worth of shares.