Dolat has a target price of ₹550 for BPCL, implying an over 25% upside. Meanwhile, it has targets of ₹450 and ₹137 for HPCL and IOC, indicating a 30% and 18% upside, respectively.
BUY HINDPETRO | TARGET: Rs 230 | STOP LOSS: Rs 213 The stock has witnessed a golden crossover on the daily chart where 50-DMA has crossed its 200-DMA from down to up. It has also formed a strong base at around 205 levels and is making a higher top and higher bottom formation on the daily chart. The momentum indicators and oscillators are in the buy mode on the weekly scales which also supports the positive momentum. The stock also witnessed a short covering of positions and now we can expect a build-up of long positions going forward.
BUY BIOCON | TARGET: Rs 480 | STOP LOSS: Rs 448