Strong positive breakout stocks to watch out for on February 16

Nifty 50 opened higher on the day of weekly expiry amid strong global cues. In this article, we would be listing strong positive breakout stocks to watch out for on Thursday.

Nifty 50 opened higher on Thursday at 18,094.75 as against its previous closing of 18,015.85. This was a result of strong global cues. Key Wall Street indices on Wednesday ended in the green. This came in despite retail sales print showing a rebound which could potentially lead towards US Fed hiking interest rates to curb inflation.

Nasdaq Composite jumped 0.92 per cent, Dow Jones Industrial Average gained 0.11 per cent and S&P 500 soared 0.28 per cent, in overnight trade. Their respective futures were also trading flat to positive at the time of writing. Tracking the overnight action of the Wall Street indices, Asian market indices too traded higher with South Korea’s KOSPI and Hong Kong’s Hang Seng leading the way.

At 9:45 a.m., Nifty 50 was trading at 18,125.2, up by 109.35 points or 0.61 per cent. Broader market indices, on the other hand, traded mixed against frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index gained 0.47 per cent and 0.67 per cent, respectively.

On BSE, the advance-decline ratio was buoyant with 1925 stocks rising, 911 falling and 116 staying unchanged. On the sectoral front, all the sectors were trading in green with IT, metals and realty being the Top Gainers.

According to the data as on February 15, both FIIs and DIIs were net buyers. Foreign Institutional Investors (FIIs) bought shares to the tune of Rs 432.15 crore. Domestic Institutional Investors (DIIs) invested Rs 516.64 crore in shares.

The following is the list of breakout stocks to watch out for on February 16.