A powerful technical setup with a strong breakout is seen in these stocks; do you hold any?

Nifty 50 started lower on the back of negative global trends. However, it is already off the day's low of 16,747.7. Check out these solid stocks with powerful technical setup.

Nifty 50 began the day in the red. However, around 9:35 AM, it starts to climb from the day's low of 16,747.7. On Thursday, leading Wall Street indices fell sharply on concerns about the US economy's likelihood of entering a recession.

In overnight trade, Nasdaq Composite sank 2.84 per cent, Dow Jones was down 1.54 per cent, and S&P 500 plummeted 2.1 per cent. These indices were all trading around their 2022 lows. In fact, the S&P 500 has dropped to its lowest level since November 2020.

Nifty 50 was trading at 17,087.55 at the time of writing, up 269.45 points (1.6 per cent). Frontline indices outpaced broader market indices. Nifty Mid-Cap 100 index increased by 1.01 per cent, while Nifty Small-Cap 100 index climbed by 0.97 per cent.

After a three-day policy meeting, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) presented its verdict today. The RBI hiked key policy rates by 50 basis points, pegs inflation at 6.7 per cent and economic growth at 7 per cent.

According to September 29 statistics, FIIs were net sellers while DIIs were net buyers. Foreign Institutional Investors (FII) sold Rs 3,599.42 crore worth of shares. Domestic Institutional Investors (DII) purchased shares worth Rs 3,161.73 crore.