BPCL, HPCL: OMC stocks fall up to 30% in March; here is what technical charts and fundamentals suggest
The oil marketing companies have been the primary casualty of the ongoing war in the Middle East as crude oil prices rallied over 50% in short period of time. Consequently, the OMC stocks fell upto 30% from the recent record high levels during same period. After the fall, the stocks are trading below their long-term median valuations and in oversold zone.
The oil marketing companies have been the primary casualty of the ongoing war in the Middle East as crude oil prices rallied over 50% in short period of time. Consequently, the OMC stocks fell upto 30% from the recent record high levels during same period. After the fall, the stocks are trading below their long-term median valuations and in oversold zone.
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