After making a marginal consolidation, BPCL has given a breakout above Rs 400-403 levels on Monday with moderate volumes. The daily Relative strength index (RSI) is making the higher bottom and higher top and MACD is trading with a positive crossover whereas (+) DI trading above (-) DI, which indicates that the stock has the potential to move higher.
Positional traders can buy the stock on dips at around Rs 400-403 with a stop loss below Rs 387 (closing) for the target of Rs 438.
Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions
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