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

On February 10, Nifty 50 started lower due to negative global trends. This post identifies top stocks that are experiencing a solid positive breakout.

Nifty 50 began the week's final trading session at 17,847.55, down from its previous closing of 17,893.45. This was due to lacklustre global trends. On Thursday, leading Wall Street indices closed down on fears about rising interest rates and another round of corporate results.

In overnight trade, Nasdaq Composite sank 1.02 per cent, Dow Jones Industrial Average dipped 0.73 per cent, and S&P 500 fell 0.88 per cent. Furthermore, at the time of writing, their respective futures were trading in the red. Asian market indices mainly moved lower, mirroring the overnight action on Wall Street. Except for Japan's Nikkei 225, all other indices were in the red.

Nifty 50 was trading at 17,824.15 at 10:20 a.m., down 69.3 points or 0.39 per cent. In comparison to frontline indices, broader market indices are outperforming. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index gained 0.05 per cent and 0.54 per cent, respectively.

The advance-decline ratio on the BSE was favourable, with 1747 stocks rising, 1334 falling, and 164 staying unchanged. Except for banks, media, and financial services, all other sectors are trading in the negative.

Both FIIs and DIIs were net sellers, according to the statistics as of February 9. Foreign Institutional Investors (FIIs) sold Rs 144.73 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 205.25 crore in shares.

The following is a list of stocks that have seen a solid positive breakout.

2 comments on article "A solid positive breakout is seen in these stocks; do you own them?"

Josemon antony

What is your openion about GCM commodity ans mercury metals

2/11/2023 10:45 PM

R S Vidya Sagar

Aurobindo has seen a positive breakout on the day Q3 results and despite mellowed Q3 result, on the next day. FY 2023 may turn out to be only marginally better than FY 2022. The positive breakout could be on the optimistic expectations of a Bonus issue. Baring that, it just appears to be purely speculative.

2/12/2023 12:46 PM

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