A strong positive breakout is seen in these stocks; Do you own them?

On the weekly expiry day, Nifty 50 began lower amid negative global trends. In this post, we have identified top stocks that are experiencing a strong positive breakout.

On Thursday, Nifty 50 began lower at 17,097.4 compared to its previous closing of 17,151.9. This was due to lacklustre global trends. On Wednesday, leading Wall Street indices concluded down as the US Federal Reserve hiked interest rates but signalled that additional hikes would be limited.

The US Federal Reserve raised interest rates by 25 basis points (100 basis point equals 1 per cent). Nevertheless, the US Fed Funds target rate is slightly higher than market expectations, ranging from 4.75 per cent to 5 per cent.

In overnight trade, Nasdaq Composite fell 1.6 per cent, Dow Jones Industrial Average plummeted 1.63 per cent, and S&P 500 dipped 1.65 per cent. Nonetheless, at the time of writing, their respective futures were trading in the green. Asian market indices, on the flipside, were largely trading higher on Thursday. With the exception of Japan's Nikkei 225 index, all other indices were trading flat to positive.

Nifty 50 was trading at 17,150.75 at 10:20 a.m., down 1.15 points or 0.01 per cent. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index gained 0.01 per cent and Nifty Small-Cap 100 index jumped 0.09 per cent.

The advance-decline ratio on the BSE was favourable, with 1833 stocks rising, 1207 falling, and 135 staying unchanged. Except from IT, PSU Banks, and realty, all other sectors were trading positive.

FIIs and DIIs were net purchasers on March 22, according to statistics. Foreign Institutional Investors (FIIs) purchased shares worth Rs 61.72 crore. Domestic Institutional Investors (DIIs) invested Rs 383.51 crore in shares.

The stocks listed below have seen a strong positive breakout.