DSIJ Mindshare

At noon on Thursday, the core equity indices i.e., Sensex and Nifty 50 were seen trading on the greener side. The Sensex was at 58,866.17, up by 400.20 points or 0.68 per cent, while Nifty was at 17,586.10 up by 122.30 points or 0.70 per cent from the last trading session.   

However, when subjected to pattern analysis, it is seen breaking out from a falling trend line resistance which is bullish. The OBV (On Balance Volume) is already at a high before the actual price breakout.

At 11.30 am on Tuesday, the core equity indices i.e., Sensex and Nifty 50 were trading in the green as the Union Budget Day finally arrived. The Sensex was at 58,695.38 up by 674.54 points or 1.16 per cent, while Nifty was at 17,531 up by 191 points or 1.08 per cent from the last trading session.   

Interestingly, in the above list couple of stocks are from the oil exploration sector and you must have heard of the proverb, ‘birds of a feather flock together’. This clearly indicates that this sector is likely to be in the limelight in the coming days.