Buy HCPL futures: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "We have seen some kind of correction in Hindustan Petroleum Corporation (HPCL) and now some kind of bottoming out. One can see some resistance at lower levels. So I would buy HPCL Futures at current market price with a stop loss of Rs 588 with a target of Rs 630."

At 12:29 hrs Hindustan Petroleum Corporation was quoting at Rs 602.45, up Rs 10.25, or 1.73 percent. It has touched an intraday high of Rs 604 and an intraday low of Rs 593.

Disclosure: Analyst does not have any positions in the stock.