Will petrol, diesel price hike set OMC stocks on fire? What charts suggest

Except IOC, which managed to hold 200-DMA, other stocks are in no mood to conquer their respective hurdles yet, technical charts indicate

Petrol and diesel prices on Tuesday were hiked by 80 paise a litre each while domestic cooking gas prices were increased by Rs 50 per cylinder, ending a over four and half month election-related hiatus in rate revision, sources said.

Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel rates have gone up from Rs 86.67 per litre to Rs 87.47. READ ABOUT IT HERE

So, is the fuel price hike enough to set the stocks of oil marketing companies - HPCL, BPCL and IOC on fire? Here's what the