Stocks to Buy – BPCL Shares – Analyst sees immediate hurdle at Rs 495 – buy for these short term, positional targets

Stocks to Buy – BPCL Shares – The stocks of Bharat Petroleum Corporation Limited (BPCL) were trading with a positive bias on the NSE on Wednesday. The stock was trading with the volumes of over 2.1 million shares around 11 am today with the total traded value amounting to Rs 103 cr. This information was available on the NSE Website.

The BPCL share price was trading at Rs 487.75 around this time up by almost 1.2 per cent or Rs 5.80 from the last closing price on Tuesday. Analyst Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking has a positive view on this PSU stock which is a top candidate of Government’s ambitions plans on privatisation.

See Zee Business Live TV Streaming Below:

The technical analyst said that the stock is looking good on technical charts and is placed well to see an upside from the current levels.

There is an immediate hurdle at levels around Rs 495, Jain said adding that once this level is breached there will be an upside that will open for levels up to Rs 550. He puts this level as a positional term target price.

The short term target price is Rs 520. He puts the stop loss at Rs 470. The 52-week high for BPCL share price NSE is 496.50 which it achieved on 6 September 2021 while the 52-week low is Rs 325 which this stock hit in 15 October 2020.

The stock today opened at Rs 484 while hitting intraday highs and lows of Rs 481.90 and Rs 489.10.

Over the last 5-6 trading sessions, the stock prices have largely gained, barring on a couple of occasions when the stock witnessed some correction.

The market cap of the company was over 1 lakh cr.

On the BSE, the shares were trading at Rs 490.55 around this time and were up by almost 1.7 per cent. The intraday high was Rs 491 while the 52-week high is Rs 496.80.