A powerful technical setup is seen in these two stocks; do you hold any?

Markets started lower on the back of weak global trends. In this post, we have listed two stocks having a powerful technical setup.

Nifty 50 started lower at 17,682.90 on weak global trends, with the dollar index staying steady at 108.15. On Friday, key Wall Street indices ended lower. This was a result of investors worrying about rising inflation and the US Fed's approach to curbing it.

The Nasdaq Composite plummeted 2.01 per cent, Dow Jones was down 0.86 per cent, and S&P 500 dropped 1.3 per cent. After a four-week winning streak, this was the first weekly dip. On Monday, major Asian indices began to fall. This was due to the Fed's aggressive tone ahead of its September policy meeting.

Brent crude oil prices have fallen 1.33 per cent to 95.43 dollars per barrel. WTI futures fell 1.38 per cent and are trading at 89.19 dollars a barrel. Natural gas futures fell 0.87 per cent as well.

Nifty 50 was trading at 17,547.30 at the time of writing, down 211.15 points (1.19 per cent). On the other hand, broader markets have underperformed frontline indices. Nifty Mid-Cap 100 index declined 1.15 per cent, while Nifty Small-Cap 100 index dipped 1.14 per cent.

All sectors, except for FMCG, traded in the red. Automobile, banks and financial services, and realty were among the biggest losers. The advance-decline ratio was negative. Around 2,134 stocks were falling, 1,304 rising, and 159 remained unchanged.

As of August 19, FIIs were net purchasers while DIIs were net sellers. Foreign Institutional Investors (FII) purchased shares worth Rs 1,110.9 crore. Domestic Institutional Investors (DII) sold shares to the tune of Rs 1,633.21 crore.