Published on 14/08/2019 4:34:16 PM | Source: Choice Broking Pvt Ltd

Buy Bharat Petroleum Ltd For Target Rs.376.60 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Oil and Gas Sector #Bharat Petroleum Corporation Ltd #Trading Report #Choice Broking

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* On an hourly chart, the stock has given a breakout of its Range-Bound Movement which indicates a robust upside movement in the counter.

* Moreover, the stock has been trading with a positive crossover of 21*50 Hourly Moving Average which shows a positive momentum in the counter.

* Even on a daily chart, the stock has managed to trade above its 21 Days Moving Average which is placed at 341.75 level which shows a positive trend for the time being.

* A daily momentum indicator RSI reading is at 50.05 level with a positive crossover, apart from this, the RSI has formed a Positive Divergence which points out for positive breathe it the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions.


Buy Bharat Petroleum Ltd @ 346.45-348.20 Stop Loss 334 Target 376.60


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