BPCL Share Price: Experts bet big on this stock! Give these important levels for investors

BPCL Share Price: Bharat Petroleum Corporation Limited (BPCL) share price has opened around 1.12 per cent lower from its previous close on 1st April, 2021.

BPCL Share Price: BPCL stock price at opening bell was at Rs 432.50 and experts are of the opinion that this is the time when one can buy stock for quick gains. Photo: Reuters

BPCL Share Price: Bharat Petroleum Corporation Limited (BPCL) share price has opened around 1.12 per cent lower from its previous close on 1st April, 2021. BPCL stock price at opening bell was at Rs 432.50 and experts are of the opinion that this is the time when one can buy stock for quick gains. They said that BPCL shares are at strong support levels and on trend reversal, it may showcase sharp rise in the next week's trade.

Speaking on BPCL share price outlook, Sumeet Bagadia, Executive Director at Choice Broking said, "BPCL share price has shown some correction from the higher levels as it has found the resistance at upper side, which may drive the prices lower until it tests its support at the middle band. Furthermore, on the downside there is an immediate support around Rs 406 level where 100 days Moving Average and Middle band support is intact, which could well be a reversal zone for the counter. So, based on the above, a buy-on-dips strategy is fine in BPCL stock for the near term."

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On ideal strategy for the stock market traders in regard to the BPCL share price, Mudit Goel, Senior Research Analyst at SMC said, "One can buy BPCL at current levels for the target of Rs 450 and Rs 462, maintaining stop-loss at Rs 424."

On his advice to the stock market investors, Bagadia said, "BPCL shares should be bought at current levels with a stop-loss of Rs 421 for a bigger target of Rs 460 to Rs 474."

BPCL has been in the news today as it has announced that a share purchase agreement has been signed between BPCL, Bharat Oman Refineries (BORL) and OQ S. A. O. C for the acquisition of 36.62 per cent of equity shares in BORL for a consideration of Rs 2,399.26 crore. The acquisition will make the 7.8million tonnes (mt) capacity refinery, located at Bina in Madhya Pradesh, a wholly owned unit of BPCL. With the acquisition of OQ’s entire stake in BORL, BPCL will establish control over BOR.

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