BPCL Shares May Rally To ₹345 After Consolidation Breakout: SEBI RA Anupam Bajpai
Synopsis
The analyst said BPCL shares broke out above a key resistance of ₹325 after consolidating between ₹307–₹325 since May 9.
BPCL broke above its recent consolidation range and may head toward ₹345, according to SEBI-registered analyst Anupam Bajpai.
At the time of writing, BPCL shares were trading at ₹322.35, down 3.4% on the day.
Bajpai noted that on May 9, the stock price of BPCL took support from its 200-day moving average.
The 20-day moving average crossed above the 200-day moving average on the same day.
The stock maintained trading above its 200-day moving average and moved into a consolidation phase between ₹307 and ₹325 since then.
Bajpai said the stock formed a sideways chart pattern, with ₹307 acting as support and ₹325 as resistance.
As of today, the stock has broken out of the consolidation phase by crossing the important resistance of ₹325.
Bajpai said the current price is ₹333.80, and a further rise may take the stock to ₹345.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘high’ message volume.
The stock has risen 9.3% so far in 2025.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.