Buy BPCL at lower levels: APTART

ET Now Technical check with Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com

With respect to BPCL currently at 560 holding up about 2.08% of course we do know that the results are due today but your outlook on this stock?

BPCL is one of the stocks which is holding on in this market in this carnage by the bears and I am bullish but I would have like to buy it at lower levels. In fact this is the stock which one has to play differently in fact the whole lot of oil PSUs one should buy it when they are falling and wait for a 2-3 month time horizon one cannot really play with the 7 to 8 days trading perspective in this kind of stocks and we have recommended a buy on this somewhere around Rs480-Rs500 levels on the decline and my immediate target in BPCL is around Rs600-Rs610 and the time horizon for that is around the next 4 to 6 weeks and that is where one can look at booking profits.