A powerful breakout is seen in these two Nifty mid-cap 100 stocks; do you hold them?

Nifty 50 began well but is trading below the day's highs. The Nifty mid-cap 100 index has broken through a falling trendline. IGL and HAL displayed a powerful bullish breakout. Continue reading to learn more.

Nifty 50 futures opened in green following the Asian indices. But the high and open are both 17,895. According to the analogy where high equals open, the market trades lower. Following this analogy means that the markets are likely to trade flat with a negative bias.

Wall Street rose in overnight trade, owing to a rally in big growth stocks. Investors expect that the US Fed would likely have a less aggressive rate hike approach.

Nasdaq Composite increased by 0.62 per cent, Dow Jones up by 0.45 per cent, and the S&P 500 increased by 0.4 per cent. Asian markets rose on Tuesday, following the trend of overnight action on Wall Street.

Nifty 50 was trading at 17,801.70, up 103.55 points (0.59 per cent), at the time of writing. Nonetheless, it lagged broader market indices. Nifty Mid-Cap 100 is trading up 1.03 per cent and the Nifty Small-Cap 100 is up 0.88 per cent.

Sectors like realty, automobiles, FMCG and private banks were topping the charts. Whereas, the metals and media sectors were the biggest losers. Yet, the advance-decline ratio was quite bullish. On BSE, 1,865 stocks were increasing, 1,537 were falling, and 188 remained unchanged.

According to the provisional data, FIIs were net buyers, while DIIs were net sellers as of August 12. Foreign Institutional Investors (FIIs) purchased shares worth Rs 3,040.46 crore. DIIs (domestic institutional investors) sold stocks worth Rs 839.45 crore. FIIs were net buyers on a month-to-date (MTD) basis, purchasing stocks worth Rs 14,841.66 crore. On an MTD basis, DIIs were net sellers, off-loading shares worth Rs 4,243.78 crore.