A solid positive technical setup is seen in these stocks; should you invest?

Nifty 50 opened higher amid strong global cues. In this article, we would be listing top stocks that are experiencing a solid positive technical setup. So, stay tuned!

Nifty 50 opened higher on Tuesday at 17,840.35 as against its previous closing of 17,770.9. This was a result of strong global cues. Key Wall Street indices ended sharply higher on Monday as all eyes are glued towards United States’ retail inflation print. This is likely to suggest the US Fed’s approach to future rate hikes.

Nasdaq Composite jumped 1.48 per cent, Dow Jones Industrial Average surged 1.11 per cent and S&P 500 soared 1.14 per cent in overnight trade. Tracking the overnight action on Wall Street, Asian market indices mostly traded higher. With an exception of Australia’s S&P ASX 200 index and China’s SSE Composite index, all others traded in the green.

At 9:20 a.m., Nifty 50 was trading at 17,832.45, up by 61.55 points or 0.35 per cent. Broader market indices, on the other hand, underperformed frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index were down by 0.42 per cent and 0.27 per cent, respectively.

On BSE, the advance-decline ratio was negative with 1222 stocks rising, 1889 falling and 144 staying unchanged. On the sectoral front, apart from IT, FMCG, automobile and Financial Services, all other sectors traded flat to negative.

According to the data as on February 13, FIIs and DIIs were net buyers. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,322.39 crore. Domestic Institutional Investors (DIIs) invested Rs 521.69 crore in shares. On a month-till-basis, FIIs were net sellers selling shares worth Rs 4,091.82 crore, while DIIs were net buyers purchasing shares to the tune of Rs 6,974.74 crore.

The following is the list of stocks that are experiencing a solid technical setup.