BPCL breaksout to begin new intermediate uptrend


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BPCL breaksout to begin new intermediate uptrend

Bharat Petroleum (BPCL) has broken upwards after consolidating for over 6 months to begin a new intermediate uptrend.

One can BUY now with a stoploss at 335.00 for an initial target of 430.00.


Active Member

Thanks for your recommendation. I would appreciate if you could comment on the following.

PSU refinary stocks HPCL, IOC and BPCL changed trend recently. Smaller refinaries have been in uptrend for some time - notably Chennai Petro, Bongaigaon, Kochi. Two questions -

1. What is your opinion on risks due to govt policy? e.g. subsidies. (I lost some in IOC earlier after a negative commentary on subsidies by analysts)

2. On both fundamental and technical terms, is BPCL the best of the lot - for 3-6 month horizon?


-- Milind
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