Buy BPCL at current levels: Vijay Bhambwani
Aggressive traders might buy the stock and hold with the stop loss at 642 or 643 levels. I would expect to take profits at 650 or above before closing today.
By 
| Updated:
| Updated: In a chat with with ET Now, Vijay Bhambwani, Author, CEO, BSPLindia.com (Technical Check), shares his views about BPCL.
ET Now: What is your call on BPCL?
Vijay Bhambwani: I had recommended buying BPCL at 644 though it has risen a lot after the morning recommendations levels. Aggressive traders might buy at a rupee or two lower from here and hold with the stop loss at 642 or 643 levels. I would expect to take profits at 650 or above before closing today.
I am betting on the fact that crude prices which are lower will cushion any more declines in the oil marketing companies in the absolute near term. Therefore it will provide some cheer to the oil marketing company traders. This strategy can be followed in the cash as well as F&O segment.
ET Now: What is your call on BPCL?
Vijay Bhambwani: I had recommended buying BPCL at 644 though it has risen a lot after the morning recommendations levels. Aggressive traders might buy at a rupee or two lower from here and hold with the stop loss at 642 or 643 levels. I would expect to take profits at 650 or above before closing today.
I am betting on the fact that crude prices which are lower will cushion any more declines in the oil marketing companies in the absolute near term. Therefore it will provide some cheer to the oil marketing company traders. This strategy can be followed in the cash as well as F&O segment.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
