Sell BPCL: Rajat Bose

Rajat Bose of rajatbose.com told CNBC-TV18, "BPCL on the weekly chart as well as on the monthly chart is giving negative signals, in the sense that it is showing negative divergence. I have also checked the Nymex crude chart that is suggesting some kind of buying at lower level and probably there will be some resistance at USD 55-55.40 kind of range and once that is crossed even crude can show a rally. For that I expect some kind of selling or at least profit taking to happen in BPCL. My target is Rs 765-752. It is a positional trading call and the stop loss should be above Rs 816."

At 15:13 hrs Bharat Petroleum Corporation was quoting at Rs 794.60, down Rs 7.25, or 0.90 percent. It has touched an intraday high of Rs 804.65 and an intraday low of Rs 791.55.