Bharat Petroleum Corporation Limited (BPCL) is a state-owned oil and gas company headquartered in Mumbai, India. It is one of the largest oil refining and marketing companies in India and is involved in the exploration, production, and refining of crude oil, as well as the marketing and distribution of natural gas, petrol, diesel, lubricants, and other petroleum products. BPCL operates two large refineries in India, one in Mumbai and the other in Kochi, with a combined capacity of over 38 million metric tons per year. The company also has a strong presence in the retail market, operating over 18,000 fuel stations across the country. In recent years, the Indian government has been looking to privatize BPCL as part of its efforts to improve the efficiency and profitability of state-owned companies.
Bharat Petroleum Corporation Limited has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development.
It also gave positive signal from the rectangle formation at the break up through the resistance at 348. Further rise to 418 or more is signaled. The moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside.
The stock is testing resistance at rupee 352. This could give a negative reaction, but an upward breakthrough of rupee 352 means a positive signal. The stock is overall assessed as technically positive for the medium long term.
Make money on a daily basis using our bank nifty option tips where you can start with a small capital of Rs 5000-10000.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
