Some more rally looks possible in Oil:-
WTI Crude has formed a double bottom pattern in daily graph and can touch $47-49 on the bounce. View gets negated only if $33 gets broken.
Stocks that will benefit when Crude rallies – CAIRN India, RPL, Reliance.
Around 25% weightage is dedicated only to Crude-related stocks in both Nifty and Sensex, that is why market can turn very bullish if Crude recovers from here.
(Graph Source: Netdania)