BPCL (₹319.55)
Finds a support
The stock of BPCL (Bharat Petroleum Corporation Ltd) has been on a decline over the past month. But last week, it found a support at ₹310 where the 21-day moving average coincides. So long as this level holds, the bulls will have an advantage. We expect the stock to gain further from the current level and touch ₹370 in the near term.
So, traders can buy the stock of BPCL at ₹315 and place a stop-loss at ₹300. When the stock hits ₹350, alter the stop-loss to ₹335. Move the stop-loss further up to ₹345 if the price rises to ₹360. Liquidate the position at ₹370.
Global Health (₹1,423.55)
Breaks out of a range
The stock of Global Health was largely trading in the sideways range of ₹1,290-1,360 since mid-July. But last week, the stock broke out of the resistance at ₹1,360. The uptick happened on the back of the 21-day moving average at ₹1,320. The price action is bullish, and the chart indicates that the stock could gain more.
It can touch ₹1,700. Nevertheless, before the next rally, the price might moderate to ₹1,370. So, buy at ₹1,423 and ₹1,370. Place stop-loss at ₹1,270. When the stock touches ₹1,550, alter the stop-loss to ₹1,400. On a rally to ₹1,650, modify the stop-loss to ₹1,580. Exit at ₹1,700.
Life Insurance Corporation of India (₹912.55)
Set to rebound
The stock of Life Insurance Corporation of India, which lost 8 per cent last month, has gained this month. Thus, the support at ₹880 is holding well and the bulls are expected to push the stock up on the back of this base. The nearest resistance is at ₹970. But we expect the stock to surpass this level and touch ₹1,000 in the near-term.
Therefore, traders can consider going long on this stock at ₹912 and at ₹890. Place stop-loss at ₹870. When the stock rises to ₹950, trail the stop-loss to ₹925. Tighten the stop-loss to ₹960 when the stock hits ₹980. Book profits at ₹1,000.
Published on August 9, 2025
