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

Notwithstanding mixed global trends, Nifty 50 opened higher on the day of weekly expiry. In this post, we have identified top stocks that are experiencing a powerful positive breakout.

On Thursday, Nifty 50 began higher at 17,772.05 compared to its previous closing of 17,754.40. This was despite mixed global signals. On Wednesday, leading Wall Street indices fared mixed as statistics showed that the labour market would continue to remain hot and interest rates would remain high for the foreseeable future.

In overnight trade, Nasdaq Composite rose 0.4 per cent, Dow Jones Industrial Average dropped 0.18 per cent, and S&P 500 climbed 0.14 per cent. Yet, at the time of writing, their respective futures were trading in the red. Asian market indices were trading mixed, mirroring the overnight action on Wall Street. Apart for Japan's Nikkei 225 and Hong Kong's Hang Seng, all other indices were trading in the red.

Nifty 50 was trading at 17,703.25, down by 51.15 points or 0.29 per cent, at 10:30 a.m. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index rose 0.35 per cent, while Nifty Small-Cap 100 index gained 0.36 per cent.

The advance-decline ratio on the BSE was positive, with 1847 stocks rising, 1242 falling, and 149 staying unchanged. Except from metal, realty, and PSU Banks, all other sectors were trading flat to red.

FIIs were net purchasers, while DIIs were net sellers, according to data as of March 8. Foreign Institutional Investors (FIIs) invested Rs 3,671.56 crore in shares. Domestic Institutional Investors (DIIs) sold Rs 937.8 crore worth of shares.

The following stocks are experiencing a powerful positive breakout.