These stocks are experiencing a strong positive breakout

5paisa Research Team 14th December 2022 - 01:35 pm

Nifty 50 had an upbeat start on Wednesday, buoyed by positive global trends. In this post, we have highlighted the top stocks that are experiencing a strong positive breakout.

Nifty 50 started today's session at 18,671.25, up from its previous closing of 18,608. This was due to positive global signals. Today's opening came ahead of the announcement of the results of the US FOMC's policy meeting later today. The prognosis for the US economy and Chair Jerome Powell's press conference will come next.

On an annual basis, the US CPI inflation reading for November was 7.1%, which was lower than the 7.3% expected. This bolstered sentiments and expectations that the Fed's aggressive rate rises would be scaled back. As a consequence, leading Wall Street indices ended in the green. In overnight trade, Nasdaq Composite climbed 1.01%, Dow Jones Industrial Average surged 0.3%, and S&P 500 rose 0.73%.

Nifty 50 was trading at 18,674.8 at 12:38 p.m., up 66.8 points or 0.4%. Broader market indices were beating frontline indices. Nifty Mid-Cap 100 index rose 0.65%, while the Nifty Small-Cap 100 index gained 0.74%.

According to December 13 statistics, both FIIs and DIIs were net purchasers. Foreign Institutional Investors (FIIs) bought shares to the tune of Rs 619.92 crore for shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 36.75 crore.

The following is a list of stocks witnessing a strong positive breakout.

Stock Name	Current Market Price (Rs)	Change (%)	Volume
PNB Housing Finance Ltd.	477.1	7.7	31,17,797
Hindalco Industries Ltd.	470.0	2.6	41,50,720
Raymond Ltd.	1,484.0	5.2	14,11,956
Fusion Micro Finance Ltd.	405.4	3.7	17,85,370
New Delhi Television Ltd.	375.9	4.9	9,81,440
LIC Housing Finance Ltd.	420.4	2.3	13,96,202
Intellect Design Arena Ltd.	439.6	2.5	10,07,352
Can Fin Homes Ltd.	552.1	2.3	10,69,398
DLF Ltd.	407.8	1.9	15,03,199
State Bank of India	623.8	1.1	75,59,997

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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