A solid positive breakout is seen in these stocks; do you own them?
On the final trading day of the week, Nifty 50 started higher on the back of strong global trends. In this post, we have highlighted top stocks that are experiencing a solid positive breakout.
In line with strong global trends, Nifty 50 started the Friday session on a positive note. On Thursday, leading Wall Street indices soared as CPI for October 2022 came in lower than expected. Furthermore, for the first time in the last eight months, the annual rate has fallen below 8 per cent. As inflationary pressures appear to be easing, market players are hoping that the Fed would lighten off on rate hikes.
Nasdaq Composite and S&P 500 have seen their largest single-day gains in the past 2.5 years. Nasdaq Composite increased by 7.35 per cent, Dow Jones gained 3.7 per cent, and S&P 500 jumped 5.54 per cent. On Friday, Asian markets advanced in response to lower-than-expected US CPI data. Furthermore, core inflation too declined to 6.3 per cent in October 2022. As a result, the US dollar dropped to two-month lows.
Nifty 50 was trading at 18,338.75, up 310.55 points or 1.72 per cent, at 11:27 a.m. Frontline market indices performed better than broader market indices. Nifty Mid-Cap 100 index was up 0.06%, while the Nifty Small-Cap 100 was up 0.35%.
According to November 10 statistics, FIIs were net buyers and DIIs were net sellers. Foreign Institutional Investors (FII) purchased shares worth Rs 36.06 crore. Domestic Institutional Investors (DII) sold shares worth Rs 967.13 crore.
The following is a list of the top stocks experiencing a solid positive breakout.
|
Stock Name
|
CMP (Rs)
|
Change (%)
|
Volume
|
|
HDFC Bank Ltd.
|
1,619.4
|
6.2
|
2,17,63,664
|
|
Housing Development Finance Corporation Ltd.
|
2,664.3
|
6.4
|
73,10,933
|
|
Jindal Steel & Power Ltd.
|
499.8
|
5.3
|
60,83,345
|
|
Infosys Ltd.
|
1,563.3
|
4.1
|
49,65,710
|
|
Hindalco Industries Ltd.
|
430.1
|
3.6
|
68,52,524
|