BPCL to gain from petrol hike, Educomp fears fall

BPCL (Buy above Rs 676, target of Rs 690)

Oil refining and marketing companies announced hike in prices of petrol and aviation turbine fuel (ATF) on Thursday. The unexpected hike by the companies will be beneficial for the oil marketeers. BPCL one the three public sector companies looks strongest technically.

[caption id=“attachment_85213” align=“alignleft” width=“380” caption=“The unexpected hike by the companies will be beneficial for the oil marketeers. Reuters”]  [/caption]

Educomp (Sell below Rs 230, target of Rs 220)

After a sharp decline in its share price, Educomp has been consolidating in the range of Rs 200 to Rs 235. The stock has however, been witnessing selling around the Rs 230 level over the last one week. Despite higher buying volume, the stock has not been able to breach the Rs 235 level. A pause in buying volume can bring the stock lower sharply.

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Bajaj Auto (Buy above Rs 1,643, target of Rs 1,675)

News report suggest a continuation of the Duty Drawback scheme for exporters. Bajaj Auto has been one of the biggest beneficiary of this scheme for exports of its two wheelers. The stock has corrected by nearly five percent after touching its all time high. This announcement can help the stock touch a new high.

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