Sell BPCL with a stop loss of Rs 655: Rajesh Agarwal

Rajesh Agarwal, Eastern Financiers is of the view that BPCL can be sold with a stop loss of Rs 655.

Agarwal told CNBC-TV18, "BPCL can be sold with a stop loss of Rs 655 and a target of Rs 626. The reason why we have selected this stock for a sell because of the kind of run up which we have seen in the last few days due to the announcement of price hikes and all, although we are very bullish on oil marketing companies and recommend a buy for a longer term but considering the fact that it has run up quite a lot we feel that some amount of correction is due & we think this will correct in the very short term."