Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "In oil marketing companies we have seen very good strength. Even if you look at Bharat Petroleum Corporation Limited (BPCL) it has been consolidating for last three weeks and has given a fresh breakout about the Rs 710. Keeping a stoploss below Rs 700 one can initiate a long position in BPCL as well. We are looking for target of Rs 775-780 which is a all time high for the stock."
At 13:06 hrs Bharat Petroleum Corporation was quoting at Rs 716.95, up Rs 11.60, or 1.64 percent. It has touched an intraday high of Rs 723.90 and an intraday low of Rs 707.
Disclosure: Analyst does not have any personal holdings in the stock.
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