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BUZZ-BPCL hits record high; technicals suggest further upside
October 6, 2016 / 5:41 AM / a year ago

BUZZ-BPCL hits record high; technicals suggest further upside

Oct 6 (Reuters) - ** India’s Bharat Petroleum Corp Ltd rises as much as 5.2 pct to record high of 683.60 rupees

** Stock has cleared the resistance at 652 rupees, the 161.8 pct Fibonacci projection level of the price rise from Feb. 23 low of 365.58 rupees to April 27 high of 497.38 rupees and retracement to May 25 low of 440.58 rupees tmsnrt.rs/2dvB7d0

** Trend intensity indicator (TI) rises to 20 from Wednesday’s level of 17, indicating an uptrend

** Price volume trend indicator (PVT) also at record high, indicating price rise is supported by volume

** MACD positive and above its signal line, positive for the stock

** Stock up more than 45 pct this year as of Wednesday’s close, compared with a 10 pct gain for the NSE index

gaurav.dogra.thomsonreuters.com@reuters.net

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