HPCL – The stock has seen a volume of 37 lakhs on NSE which is highest in the last 1 year almost. With delivery marking of 52% is very high considering the stock does 50% also normally. This indicates there has been strong buying into the stock.
One can accumulate the stock in parts at 320 and 310 with a stoploss of 305 and upside target of 350 +
Other stocks like Reliance Inds has given a strong breakout and sustaining above 740 can give a good 5-10% jump. Also BPCL looks interesting above 760.
Time seems to be changing for OIL and GAS sector.
Happy Investing,
Nooresh Merani
