BPCL may test Rs 520: Vishal Malkan

Vishal Malkan of Malkansview.com is of the view that Bharat Petroleum Corporation may test Rs 520 in the short term and Rs 550-575 in the medium term.

Vishal Malkan of Malkansview.com told CNBC-TV18, "Out of Hindustan Petroleum Corporation  (HPCL), Bharat Petroleum Corporation  (BPCL) and Indian Oil Corporation  (IOC), BPCL looks the best because it has broken above its all time high and momentum in all three timeframe which is daily, weekly and monthly has entered into bullish zone. So, I expect a good target in the medium term around Rs 550-575 and for the short-term we can look for a target of Rs 520."

At 14:09 hrs Bharat Petroleum Corporation was quoting at Rs 482, up Rs 18.25, or 3.94 percent. It has touched a 52-week high of Rs 486.80.

The share touched its 52-week high Rs 468.80 and 52-week low Rs 256 on 31 March, 2014 and 06 August, 2013, respectively. Currently, it is trading 2.82 percent below its 52-week high and 88.28 percent above its 52-week low. Market capitalisation stands at Rs 34,852.66 crore.

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