STOCK IN DOWNTREND: BPCL
BPCL has been in a downtrend for sometime.
The stock has been trading in a tight range of 322 to 362.
As per DARVAS BOX theory, it has reached the bottom of the box.
There are two possibilities, either it can sustain the 330 - 322 levels or rise again to 362 levels.
However, volume profile is weak and keep falling continuously.
The fall in price could be attributed to decrase in profit in the last quarter.
Fundamentally, the operating profit has considerably decreased from Rs. 8,955 Cr. in Mar 2024 to Rs. 5,627 Cr. in Jun 2024.
Longterm investors and swing traders can consider entering the stock with appropriate stop loss.
The stock has been trading in a tight range of 322 to 362.
As per DARVAS BOX theory, it has reached the bottom of the box.
There are two possibilities, either it can sustain the 330 - 322 levels or rise again to 362 levels.
However, volume profile is weak and keep falling continuously.
The fall in price could be attributed to decrase in profit in the last quarter.
Fundamentally, the operating profit has considerably decreased from Rs. 8,955 Cr. in Mar 2024 to Rs. 5,627 Cr. in Jun 2024.
Longterm investors and swing traders can consider entering the stock with appropriate stop loss.
Aviso legal
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