Do you hold these stocks experiencing a positive breakout from the first resistance level?

Do you hold these stocks experiencing a positive breakout from the first resistance level?

Henil Shah
/ Categories: Trending, Mindshare

Nifty 50 has been trading near day's high. Many stocks have also had a positive breakout from the first resistance level. Continue reading to learn more.

To fight inflation, the Federal Reserve raised its benchmark interest rate by 75 basis points. This was the second 75 basis point rate rise in a row and the fourth of the year. As a result, US stock indices soared on Wednesday. The Nasdaq Composite had its best day since April 2020.

 

On July 27, the Nifty 50 ended its two-day string of losses ahead of the result of the US Fed meeting in the evening. Nifty concluded yesterday's session at 16,641.8, up 0.96 per cent or 157.9 points. Nifty 50 was the best performance in the Asian pack. The next resistance level is 17,200 to 17,300, while 16,300 to 16,500 is anticipated to serve as solid support for Nifty 50 in the short term.

 

Asian indices rose cautiously on Thursday, as investors noted a likely slowdown in the pace of US rate hikes, falling bond rates, and a restriction on the dollar.

 

The stocks listed below have successfully broken through the first resistance level.

 

Stocks CMP (Rs) R1 R2 R3 S1 S2 S3
Balaji Amines Ltd. 3,410.0 3,392.0 3,458.5 3,552.0 3,232.1 3,138.6 3,072.1
Linde India Ltd. 3,670.0 3,637.7 3,691.2 3,745.1 3,530.4 3,476.5 3,423.0
SKF India Ltd. 4,100.7 4,045.4 4,121.8 4,169.5 3,921.2 3,873.5 3,797.1
Venky's (India) Ltd. 2,032.0 2,022.3 2,045.7 2,064.3 1,980.3 1,961.7 1,938.3
Hindustan Aeronautics Ltd. 1,967.0 1,959.0 1,978.8 2,015.8 1,902.2 1,865.2 1,845.4
Home First Finance Company India Ltd. 848.7 840.0 857.4 884.8 795.3 767.9 750.5
Zydus Wellness Ltd. 1,628.3 1,619.3 1,634.0 1,648.0 1,590.6 1,576.6 1,561.9
Affle (India) Ltd. 1,052.9 1,049.2 1,058.6 1,070.2 1,028.2 1,016.6 1,007.2
Gujarat Alkalies & Chemicals Ltd. 740.5 735.7 745.3 758.6 712.8 699.5 689.9
Century Textiles & Industries Ltd. 817.2 811.8 821.1 829.7 793.9 785.3 776.0

 

Note: R stands for Resistance and S stands for Support.

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