Budget 2020 MyPick: Hot Stock Tip! Market experts recommend a 'Buy' for BPCL stock

Are you planning to buy a stock that can give you very high returns? Market experts Kumal Sarogi and Rakesh Bansal have valuable tips for you! Experts have told Zee Business Managing Editor Anil Singhvi that investors should look at investing in Bharat Petroleum (BPCL) stock keeping a medium-term view of its performance.

The stock recommendations are for buying Bharat Petroleum shares. The state-run company's stock has seen a big correction in its price and the charts indicate that this correction phenomenon is ending. There are strong recommendations for buying the Bharat Petroleum shares.

Our expert Kunal Saraogi will tell you why BPCL stock is a must-buy for investors.

10 की कमाई में मार्केट एक्सपर्ट कुणाल सरावगी और राकेश बंसल का सुझाव- मिड-टर्म के लिए BPCL में करें खरीदारी#BUDGET2020ZEE

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A pattern has formed on the longterm charts which is called bullish flag pattern, Saraogi said. It appears that a breakout is coming and the structure which is now forming shows that the BPCL share might reach the levels of Rs 535 and Rs 540.

So, there will be an immediate target of Rs 535-540, he said adding that the BPCL stock could achieve this level in the next 2-3 months' time. Saraogi puts the stop loss at Rs 445 and at this level BPCL shares should be brought with a medium-term perspective, he further said.
 
The chart structure of BPCL stock is very good and the stock should reach to the levels as expected, he said.

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The shares of BPCL were trading around 479 around 2 pm and were up by over 2% from the previous close.

You can catch all the updates on Feb 1 with #Budget2020Zee.