Nifty Energy Index: The index has been consolidating in the range of 14,730 – 13,750 since August. The formation seems like triple-bottom and a breakout would mean can take the index to the 15,000 mark. The further rally from there can see the index hit 15,400 – 15,500. The trend remains positive, as the index has been constantly trading around breakout levels from the last four sessions. CLICK FOR CHART VIEW
Bharat Petroleum Corporation Ltd (BPCL): In the last 14 sessions, the counter has outperformed the frontline indices with an up move of 25 per cent. Such a significant rally in a short period may be met with profit booking. The RSI, too, has entered the overbought region. That said, the overall trend remains bullish and a rally towards Rs 440 may be expected. The range of Rs 370 – Rs 365 remains a firm support for the stock. CLICK FOR CHART VIEW
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