Sell BPCL, Coal India, Dr Reddy's Labs: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Whether Bharat Petroleum Corporation (BPCL) would react to the fall in the crude prices or not would be known if BPCL were to trade above Rs 968. That is why I have a trade with a stop loss above Rs 968 because that is the intermediate trend line above which, if it sustains, then that would be a recovery. But, since it closed below that, I have kept a sell and targets are Rs 941 and Rs 933. So, if these levels are taken out, that is Rs 968, you can actually reverse the trade and go long with a stop loss below the last close.""The second sell is Coal India, it is actually breaking down. Further fall is likely here, targets would be Rs 273 to about Rs 271. Put a stop loss at Rs 283. The stock has actually expanded on volume in quite a big way yesterday. So, probably the momentum on the downside is likely to continue," he said. "The other sell that I have is Dr Reddy's Laboratories. It is weak but if it were to trade above Rs 2972, then you can actually expect a recovery. Hence, I have placed a stop loss at that level. But, if it fails to recover, then there could be a large fall awaiting. In that case, Rs 2,915 to about Rs 2,885 support area might well be tested by Dr Reddy's," he added.