MiG007

BPCL Short

Short
NSE:BPCL   BHARAT PETROL CORP
BPCL CMP 412.85

Resistance - 435, 545
Support - 370, 325 , 310

BPCL may give a news-based move tomorrow. Although stock already discounted earlier when Saudi Aramco declined to bid in the stock in its disinvestment, Govt closed the date for stake selling today and no major investor has shown any interest in bidding. We can again expect an immediate down-move tomorrow. 370 is a strong support level for the stock. A gap-down start is also expected. But stock has potential to show growth in long-term.