Here's why Mehul Kothari is bullish on BPCL, Thomas Cook

According to the technical analyst from Anand Rathi, BPCL can rally to Rs 365; while Thomas Cook can jump to Rs 88.

BUY

BPCL

Buy Near: Rs 345

TARGET: Rs 365

Stop Loss: Rs 334

Most of the OMCs have been doing well since many weeks and in Monday's session they all had a breakout. BPCL just confirmed a fresh breakout from an inverse head and shoulder pattern which has a faster right shoulder. The price action indicates that the buyers are in a position to dominate from here on.

Thus, we advise traders to buy the stock on dips near Rs 345 with a strict stop of Rs 334.

BUY

Thomas Cook

Buy Near: Rs 82

Target: Rs 88

Stop Loss: Rs 79

Thomas Cook has confirmed a price breakout above Rs 82 mark. The pattern resembles bullish Cup and Handle along with breakout in RSI. The stock has cleared previous quarter's high.

Hence, we advise traders to buy the stock near Rs 82 with a strict stop of Rs 79.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).