Tripping worries for DLF, BPCL may face crisis too

DLF (Sell below Rs 196, target of Rs 190)

Government officials have said that they are considering introducing a real estate regulator to monitor the real estate market in the country. This was enough to spook real estate stocks across the market. These stocks can fall further as increased transparency can impact real estate prices.

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BPCL (Sell below Rs 656, target of Rs 640)

A depreciating rupee has nullified the benefit of petrol price hike introduced by oil marketing companies (OMC) as import of crude oil will become costlier, thus impacting refining margins. BPCL was among the weakest OMC’s in the market on Thursday. The stock can fall as rupee depreciates further.

Canara Bank (Sell below Rs 422, target of Rs 410)

Costlier imports, especially of crude oil will result in higher inflation. This will prevent the central bank from reducing interest rates. Banking stocks thus will remain under pressure. Canara Bank has seen accumulation around Rs 430 levels for over two weeks, a fall below this level can see the stock going down sharply.

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