These strong breakout stocks are showing solid technical setup; do you hold them?

Are you looking for strong breakout stocks? This article lists top stocks having a solid technical setup.

On Friday, Nifty 50 closed 0.62 per cent down at 18,812.5. However, SGX Nifty indicated a positive market opening. Even though the markets started higher, the Nifty 50 was trading at 18,663.75, down 32.35 points or 0.17 per cent at 9:30 a.m. According to reports, the Nifty Mid-Cap 100 index and the Nifty Small-Cap 100 index are outperforming the frontline indices as they trade in the green.

Leading Wall Street indices finished flat on Friday. Nasdaq Composite ended down by 0.18 per cent, Dow Jones climbed 0.1 per cent, and S&P 500 fell 0.12 per cent. This was due to investors analysing the stronger-than-expected labour figures and the approaching US Fed meeting. Nonfarm payrolls increased by 2.63 lakh in the last month, but the unemployment rate remained constant at 3.7 per cent.

Furthermore, the Caixin or S&P Global Services Purchasing Managers' Index for November showed the lowest value of 46.7 in the previous six months. Additionally, this was the third straight month of production and new work reduction. The readings for September and October were 49.3 and 48.4, respectively.

On the other hand, Asian counterparts are trading higher on Monday. This came when China loosened COVID-19 testing restrictions in several cities. This, in turn, points to greater restrictions being relaxed.

According to statistics as of December 2, both FIIs and DIIs were net purchasers. Foreign Institutional Investors (FIIs) invested Rs 214.76 crore in shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 712.34 crore.

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