Check out these powerful stocks with a solid technical setup

Nifty 50 opened the session lower amid weak global cues. This post contains a list of powerful stocks that are experiencing a solid technical setup.

Nifty 50 opened today’s session lower at 17,087.35 amid weak global cues. On Wednesday, leading Wall Street indices ended lower as market participants absorbed the minutes from the Fed’s FOMC meeting. 

Here the emphasis was more on undertaking an aggressive policy stance to curb the rising inflation. Nasdaq Composite ended the session flat at 0.09% with a negative bias. S&P 500 slipped 0.1% and Dow Jones dropped 0.33%.

Asian markets too took the cues from the Wall Street indices registering a decline on Thursday. This was a result of the Fed’s FOMC meeting minutes and the US CPI numbers that are due to be announced later today.

At 10:27 am, Nifty 50 was trading at 17,016.85, down by 106.75 points (0.62%). The performance of the broader market indices as against frontline indices was mixed. Nifty Mid Cap 100 index was down 0.68%, while Nifty Small Cap 100 index fell 0.46%.

According to the data as on October 12, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FII) sold Rs 542.36 crore worth of shares. Domestic Institutional Investors (DII) bought shares worth Rs 85.32 crore.

Even on Month till Date (MTD) basis, FIIs continue to sell, whereas DIIs try to absorb the selling pressure from the FIIs. On an MTD basis, FIIs sold shares to the tune of Rs 7,330.6 crore and DIIs bought Rs 5,677.63 crore worth of shares.

Following is the list of powerful stocks that are experiencing a solid technical setup in volatile market.