Strong positive breakout is seen in these stocks; should you invest?

While opening flat on the day of weekly expiry, the Nifty 50 is off lows at the time of writing. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.

On Thursday, Nifty 50 began flat at 17,574.65, up from its previous closing of 17,554.3. This was due to flat global trends. The leading Wall Street indices ended Wednesday's session flat after US Fed members hinted at indications of lowering inflation at their most recent FOMC meeting, but not enough to stop raising interest rates.

In overnight trade, Nasdaq Composite rose 0.13 per cent, Dow Jones Industrial Average dipped 0.26 per cent, and S&P 500 fell 0.16 per cent. Nonetheless, at the time of writing, their respective futures were trading in the green. Except for South Korea's KOSPI, which was trading in the green and following the global trends, Asian market indices were primarily trading lower.

Nifty 50 was trading at 17,529.75 at 12:45 p.m., down 24.55 points or 0.14 per cent. Frontline indices, on the other hand, outperformed broader market indices. Nifty Mid-Cap 100 index fell 0.45 per cent and Nifty Small-Cap 100 index dropped 0.14 per cent.

The advance-decline ratio on the BSE was unfavourable, with 1498 stocks rising, 1815 falling, and 155 staying unchanged. Except for FMCG, metal, and IT, all other sectors were trading in the red.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of February 22. Foreign Institutional Investor sold (FIIs) shares worth Rs 579.82 crore. Domestic Institutional Investors (DIIs) invested Rs 371.56 crore in shares.

The stocks listed below have seen a strong positive breakout.