Sell BPCL on rally, says PN Vijay

PN Vijay, Portfolio Manager, askpnvijay.com advises traders to sell BPCL on rallies.

Vijay told CNBC-TV18, “BPCL news is definitely positive for them and has given a nice move up in what is really a bull day with every stock getting attention just for a little bit of news. But I won’t go too far on this.”
He further added, “BPCL has too big domestic operations for these things to have a very lasting effect and probably with this move all the good news has got factored into the price and I don’t think this government, which is winning every battle, but winning it very hard is in a mood to raise petro product prices in a hurry. So, I don’t see any great movement on any fundamentals. So BPCL for me still remains some sort of a sell on rallies.”