bpcl: Day Trading Guide: BPCL among 4 stock recommendations for Thursday – Stock Ideas
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Sell at current levels
Target: Rs 5,220
Stop Loss: Rs 5,570
Target: Rs 5,220
Stop Loss: Rs 5,570
The stock has slipped lower as it found resistance around its previous swing low. Besides, the price has remained below the near-term moving averages on the daily timeframe. The sentiment is likely to remain bearish over the short term; on the lower end, the price may fall towards the recent low of Rs 5,220.
On the higher end, resistance is visible at Rs 5,570. Over the short term, the stock can move down towards Rs 5,220 as long as it sustains below Rs 5,570.
Analyst: Rupak De, LKP Securities
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