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    Stock Radar: 70% rally in 1 year! This oil & gas stock making higher highs on monthly charts; what should investors do?

    Synopsis

    Tracking the momentum, BPCL shares hit a record high of Rs 687 on February 16, 2024, but it failed to hold the momentum. The oil & gas stock witnessed a price-wise correction but is showing signs of bottoming out.

    Bharat Petroleum Corporation Ltd (BPCL), part of the oil & gas space, has rallied over 70% in the last year and the chart pattern suggests that the rally may not be over yet.Short-term traders can look to buy the stock now for a possible target of Rs 690 which will be a retest of its February 2024 highs in the next 3-4 weeks, suggest experts.The oil & gas stock rose from Rs 360 as of May 18, 2023, to Rs 629 as of May 18, 2024, an upside of 74%
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