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BPCL is poised for a major upside; here's why

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The underperformance is partly driven by continued extensions in the submission date for Expression of Interest (EoI) to pick up the government’s stake in its disinvestment process.

Synopsis

“The stock has seen 92% rollover with increase in the grip of Put writers over Call writers, but the overall trend is positive as it closed above its 200-day DEMA,” said Chandan Taparia, technical analyst at Motilal Oswal Financial Services.

Mumbai: The stock of Bharat Petroleum Corporation Ltd (BPCL), which moved above the 200-day double exponential moving average (DEMA) on Friday, is poised for a major upside with disinvestment on the cards, analysts said.Shares ended the day at Rs 394 after trending higher and forming higher highs on a daily scale during the past seven trading sessions.“The stock has seen 92% rollover with increase in the grip of Put writers over Call writers,

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