A strong positive breakout is seen in these stocks; do you own them?

Henil Shah
/ Categories: Trending, Mindshare
A strong positive breakout is seen in these stocks; do you own them?

Nifty 50 started lower on the back of negative global trends. This post identifies top stocks that have seen a strong positive breakout.

Nifty 50 started lower on Wednesday at 17,896.6, compared to its previous closing of 17,929.85. This was due to weak global trends. The leading Wall Street indices finished negative on Tuesday as inflation slowed but remained strong enough for the US Fed to proceed with more rate hikes.

 

In overnight trade, Nasdaq Composite rose 0.57 per cent, Dow Jones Industrial Average dipped 0.46 per cent, and S&P 500 dropped 0.03 per cent. Following global trends, Asian market indices plummeted, with South Korea's KOSPI and Hong Kong's Hang Seng suffering the most.

 

Nifty 50 was trading at 17,943.25, up 13.4 points or 0.08 per cent, at 11:30 a.m. Frontline indices, however, performed mixed against broader market indexes. Nifty Mid-Cap 100 index gained 0.22 per cent, while Nifty Small-Cap 100 index up 0.05 per cent.

 

The advance-decline ratio on the BSE was positive, with 1682 stocks rising, 1560 falling, and 164 staying unchanged. Apart from media, realty, metals, PSU banks and automobiles, all other sectors were trading in the negative.

 

Both FIIs and DIIs were net buyers on February 14, according to statistics. Foreign Institutional Investors (FIIs) bought shares to the tune of Rs 1,305.3 crore. Domestic Institutional Investors (DIIs) purchased shares worth Rs 204.79 crore.

 

The stocks listed below are experiencing a strong positive breakout.

 

Stock Name

CMP (Rs)

Change (%)

Volume

Torrent Power Ltd.

501.4

9.7

85,94,560

Adani Enterprises Ltd.

1,808.0

3.3

41,78,799

Reliance Industries Ltd.

2,421.5

1.8

81,41,026

Adani Wilmar Ltd.

405.8

3.2

33,37,239

Adani Ports and Special Economic Zone Ltd.

576.7

2.0

48,81,392

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