20 Nifty F&O segment stocks that can rally from the current levels
Over the years, rising stock prices with an upswing in volume has been studied as a strong trend indicator, which shows the possibility of a further upward move in scrips
 "20 Nifty F&O segment stocks that can rally from the current levels")
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The benchmark indices have gained over 5 per cent since March 11. The rally has seen many stocks to enter a new trend with volumes showing significant addition. Beside technical indicators, the price action was co-related with volume and the pattern depicts the momentum and the interest of the investors.
Over the years, rising stock prices with an upswing in volume has been studied as a strong trend indicator, which shows the possibility of a further upward move in scrips. A correction in such stocks at support levels has seen the addition of buying and a sustained consolidation.
The candle close has a strong relevance with volumes. Two continuous close in green with rising volume validates the upward move in a counter and strongly determines the strength. Similarly, two negative candles in an upward trend shows weakening strength; and if crucial supports are broken, the stock may enter a negative zone.
Volumes, when correlated with candlestick patterns, have helped to identify major reversal and profit booking levels. Major patterns include Bullish Engulfing, Piercing Line, Morning Star and Hammer.
Here are 20 stocks in Nifty F&O segment that look positive on the charts and have seen above-average volume:
| Scrip Code | Scrip Name |
| BHARATFORG | BHARAT FORGE LTD |
| BIOCON | BIOCON LIMITED. |
| DABUR | DABUR INDIA LTD |
| DISHTV | DISH TV INDIA LTD. |
| HEROMOTOCO | HERO MOTOCORP LIMITED |
| HINDUNILVR | HINDUSTAN UNILEVER LTD. |
| IDEA | VODAFONE IDEA LIMITED |
| JISLJALEQS | JAIN IRRIGATION SYSTEMS |
| KAJARIACER | KAJARIA CERAMICS LTD |
| MARUTI | MARUTI SUZUKI INDIA LTD. |
| MCDOWELL-N | UNITED SPIRITS LIMITED |
| MOTHERSUMI | MOTHERSON SUMI SYSTEMS LT |
| NESTLEIND | NESTLE INDIA LIMITED |
| PTC | PTC INDIA LIMITED |
| SAIL | STEEL AUTHORITY OF INDIA |
| SRTRANSFIN | SHRIRAM TRANSPORT FIN CO. |
| SUNTV | SUN TV NETWORK LIMITED |
| UBL | UNITED BREWERIES LTD |
| WOCKPHARMA | WOCKHARDT LIMITED |
| ZEEL | ZEE ENTERTAINMENT ENT LTD |
| Source: Spider Software |
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