Shipping Corporation, BPCL, NFL: Trading strategies for news-driven stocks

With a strong gap-up on March 2, 2021, BPCL stock is near the resistance range of Rs 481 to Rs 483 levels

Firm global cues and steady recovery in the economic situation back home comforted bulls at the bourses on Tuesday. Domestic equity markets were ruling higher for second straight day, but were facing resistance at top levels. At 11:40 AM, the benchmark S&P BSE Sensex was hovering just above the 50,000-mark, having topped 50,400 levels in the intra-day deals. The Nifty50 index, too, came off highs and was quoting at 14,822 levels.

Amid this volatility, news-driven stocks were topping the charts. BPCL, for instance, was trading as the top performer on the National Stok Exchang, up 4 per cent on the index.