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

Nifty 50 started lower on the back of negative global signals. In this article, keep an eye out for companies that have seen a solid positive breakout.

Nifty 50 began trading lower on the weekly expiry session at 17,421.5.1 as opposed to its previous closing price of 17,450.9. This occurred in the context of weak global signals. Leading Wall Street indices were largely down on Wednesday, following stronger-than-expected manufacturing data and investors apprehensive about signs of prolonged inflation.

In overnight trade, Nasdaq Composite fell 0.66 per cent, Dow Jones Industrial Average rose 0.02 per cent, and S&P 500 sank 0.47 per cent. At the time of writing, their respective futures were trading mixed, with Dow futures trading green and Nasdaq and S&P 500 futures trading red. Asian market indices largely dropped, mirroring the poor global signals. All indices were trading in the green except for the China’s SSE Composite index and South Korea’s KOSPI.

Nifty 50 was trading at 17,367.8 at 11:15 a.m., down 83.1 points or 0.48 per cent. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index down 0.02 per cent while Nifty Small-Cap 100 index gained 0.05 per cent.

The advance-decline ratio on the BSE was favourable, with 1682 stocks rising, 1507 falling, and 154 staying unchanged. Except from the metal, realty, and PSU banks, all other sectors were trading in the red.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of March 1. Foreign Institutional Investors (FIIs) sold shares worth Rs 424.88 crore. Domestic Institutional Investors (DIIs) invested Rs 1,498.66 crore in shares.

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