20 Nifty F&O segment stocks that can rally from the current levels

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