Look at BP to hold near 580-585: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about BP.

What is the call on BP?

If you look at BP, BP had hit a level of support and one was looking for a little bit of a rally but I would be very careful in this market because there seems to be huge downside momentum and when you have such huge momentum, any of the short term support levels would simply be washed away but even so, I would look for BP in the range of 580-585 to actually hold the support because that has been something which has managed to hold the earlier attempt also which was equally fierce.

So on BP, maybe in this sea of red, maybe a small island just if like one is really wanting to go long, then you have a gun held at your head, then BP is a stock.