Positive on oil stocks: Devang Visaria

Devang Visaria, Chief Strategist, devangvisaria.com, Microsec Capital Ltd., in a chat with ET Now talks about OMCs stocks.

Stocks on oil and marketing space on the charts, the likes of BPCL and ONGC?

BPCL, HPCL and IOC, the strategy would be slightly different. The stocks have seen very smart correction from their highs for example HPCL was at 550 5 weeks back and now it is at around 454. Here the strategy should be to accumulate these stocks on every dips. So on the longer term basis, we like the charts and hence we would look to accumulate these stocks but probably as a 2 or 3-month call and the buying should be done in a very staggered manner.