BPCL - Divestment Target
The company had a poor q4 because of inventory losses which will get reversed with q1 results which should be good.
They have been allowed to non stop increase rates as well which should further help their results. Volumes will be much lower but that in time will pick up.
Additionally govt will want to divest this asset at a premium.
Long once stock crosses 399/400 with SL below 385.
Technically 200EMA has been a regular support/resistance for this stock so a move above will bring about a sharp move.
They have been allowed to non stop increase rates as well which should further help their results. Volumes will be much lower but that in time will pick up.
Additionally govt will want to divest this asset at a premium.
Long once stock crosses 399/400 with SL below 385.
Technically 200EMA has been a regular support/resistance for this stock so a move above will bring about a sharp move.
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