These stocks are experiencing a strong positive breakout; do you hold them?

5paisa Research Team 9th December 2022 - 01:29 pm

Nifty 50 began flat, with a bearish bias, on the back of poor global trends. In this post, we have highlighted top stocks that are experiencing a strong positive breakout.

The Nifty50 index began flat with a negative bias at 18,638.85, compared to the previous closing of 18,642.75. Despite reaching a high of 18,668.3, the Nifty 50 is currently trading negative. This was due to a lacklustre global trend. Leading Wall Street indices on Tuesday fell dramatically on expectations that the US Federal Reserve will quickly raise interest rates, increasing the likelihood of a recession.

In overnight trade, Nasdaq Composite plummeted 2%, Dow Jones ended down by 1.03%, and S&P 500 fell 1.44%. On Wednesday, Asian markets fell in response to overnight Wall Street cues.

Nifty 50 was trading at 18,586.15 at 12:52 p.m., down 56.6 points or 0.3%. Frontline indices were outperforming broader market indices. Nifty Mid-Cap 100 index was down 0.36% and the Nifty Small-Cap 100 index slumped 0.43%.

The advance-decline ratio on the BSE was negative, with 1893 stocks falling, 1473 rising, and 154 staying unchanged. Apart from FMCG and PSU banks, all other sectors were trading in the red. Media, realty, information technology, and automobiles are the worst performers.

According to December 6 statistics, both FIIs and DIIs were net sellers. Foreign Institutional Investors (FII) sold Rs 635.35 crore worth of shares. Domestic Institutional Investors (DII) sold shares worth Rs 558.67 crore.

The following is a list of stocks that have seen a solid positive breakout.

Stock Name	CMP (Rs)	Change (%)	Volume
Dabur India Ltd.	604.0	1.9	44,81,393
AU Small Finance Bank	671.7	3.5	20,24,129
Fusion Micro Finance Ltd.	395.3	3.9	17,20,957
Bikaji Foods International Ltd.	409.5	3.5	17,19,338
Larsen & Toubro Ltd.	2,128.6	1.7	25,30,395
Adani Wilmar Ltd.	659.4	1.7	19,48,408
Interglobe Aviation Ltd.	1,974.9	2.2	14,51,734

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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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