A solid positive breakout is seen in these stocks; do you hold them?

On Tuesday, Nifty 50 began down due to negative global trends. In this post, we have highlighted top stocks that are experiencing a solid positive breakout.

Nifty 50 index began lower on Tuesday at 18,163.2, compared to its previous closing of 18,197.45. This is due to the uncertainty around the implications of the impending recession in 2023. Nifty 50 continues to trade below its 50-Day Moving Average (DMA). As a result, in the short term, 18,300 is the resistance and 18,050 level is the support.

The war between Russia and Ukraine and the COVID cases in China threaten to keep the price of energy and raw materials high, and central banks throughout the world are issuing warnings about a protracted inflation battle. Even the Asian markets are trading in a volatile manner.

China, Taiwan, and Hong Kong indices are trading in the green, while Australian and South Korean indices are trading flat to lower. As attention turns to the US Fed minutes, Dow Jones, S&P 500, and Nasdaq 100 futures are trading flat.

Nifty 50 index was trading at 18,234.6 at 10:15 a.m., up 37.15 points or 0.2 per cent. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index rose 0.42 per cent, while the Nifty Small-Cap 100 index climbed 0.32 per cent.

On the BSE, the advance-decline ratio was strong, with 2127 stocks rising, 1036 falling, and 145 staying unchanged. Aside from FMCG, metals, and media, all sectors traded in the green.

According to January 2 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 212.57 crore worth of shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 743.35 crore.

The stocks listed below have seen a solid positive breakout.