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On July 22, seven stocks from the Nifty50 pack appeared in the RSI Trending Up scan, according to the stockedge.com data.

The Nifty IT index was trading 0.29 per cent down at 39656.55.

Railway, defence, and PSU stocks on BSE rose ahead of the Union Budget by the Finance Minister. RailTel up 3%, Cochin Shipyard and DCX Systems gained, while Titagarh Rail, Texmaco Rail mixed. PSU stocks: IRCTC, IRFC, OIL, GMDC, Mazagon Dock, Bharat Forge, LIC, BEML, NTPC, Gujarat Gas, RCF, NMDC Steel. Multibagger returns seen; MRPL declined 3.7%.

Four stocks from the NSE large cap pack were identified in the "White Marubozu" bullish scanner. The White Marubozu pattern is characterized by the opening price being the lowest and the closing price being the highest for a specific period.

A total of 1,198,815 shares changed hands on the counter till 10:56AM (IST)

On the technical charts, the RSI of the stock stood at 51.49.

​Derivatives of consumption especially in the rural areas or beyond the metros that is something that we were watching for, that is something we were positioned for also. We have switched much of our auto positioning as an example over the past four to six quarters from four-wheelers to more to CVs and to two-wheelers.

Ahead of the Union Budget, Indian equity indices rose with Sensex up 250 points and Nifty50 up 55 points. The government projects 6.5%-7% growth. UltraTech Cement, Suzlon Energy, and Adani Ports gained while HCL Tech fell. Gensol Engineering won a solar project bid. The budget aims to boost job creation and consumption. Sectors like Nifty Auto also rose.