A powerful technical setup is seen in these stocks; do you hold any?

Nifty 50 started lower on the back of negative global trends. In this post, we have highlighted top stocks with powerful technical setup even in the volatile market.

Nifty 50 began lower at 17,287.2 on the back of dismal global trends. On Thursday, leading Wall Street indices fell amid relentless policy tightening that is expected to drag the US economy into recession.

The monthly nonfarm payroll figures will be revealed later today. Furthermore, Chicago Fed President Charles Evans believes that a rate rise of 125 basis points (100 basis points equals 1 per cent) is likely before the end of the year.

Nasdaq Composite concluded the session in the red, down 0.68 per cent in overnight trading. Dow Jones and S&P 500 both dropped 1.15 per cent and 1.02 per cent, respectively.

Nifty 50 was trading at 17,227.05 at 12:07 PM, down 104.75 points (0.6 per cent). Broader markets performed inconsistently against frontline indices. Nifty Mid-Cap 100 index fell 0.91 per cent, while Nifty Small-Cap 100 index declined 0.47 per cent.

On BSE, the advance-decline ratio appears to be negative in the broad sense. Around 1,537 stocks were up, 1,707 were down, and 140 were unchanged.

All sectors traded in the red and sectors like banking, metals, and FMCG was among the biggest losers.

FIIs were net purchasers, while DIIs were net sellers, according to statistics as of October 6, 2022. Foreign Institutional Investors (FII) bought Rs 279.01 crore worth of shares. Domestic Institutional Investors (DII) sold shares worth Rs 43.92 crore.