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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

Avdhut Bagkar  |  Mumbai 

Stock markets. Photo: iStock
Stock markets. Photo: iStock

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 segment that look positive on the charts and have seen above-average volume:

Scrip Code Scrip Name
BHARATFORG LTD
BIOCON BIOCON LIMITED.
DABUR DABUR INDIA LTD
DISHTV INDIA LTD.
HEROMOTOCO HERO MOTOCORP LIMITED
HINDUNILVR HINDUSTAN UNILEVER LTD.
IDEA LIMITED
JISLJALEQS JAIN IRRIGATION SYSTEMS
KAJARIACER KAJARIA CERAMICS LTD
MARUTI INDIA LTD.
MCDOWELL-N 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

First Published: Tue, March 26 2019. 10:45 IST
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