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Technical Analyst, Sudarshan Sukhani is of the view that one can ignore oil marketing companies.

“Oil marketing companies have fallen again. It is not just the three month chart that we should be looking at you ask yourself what have they done in the last ten years and the answer is nothing. So HPCL, BPCL and Indian Oil are three stocks which have done and moved nowhere in the last ten-years, so it is possible if you make a call on the marketing companies, on the oil prices, on the retail, say price of oil and then okay they can go by 5-10% that’s different. But so many ifs and buts are there that the traders would be well advised to ignore it unless they fall a lot and there is a bounce. Just ignore it.”

Disclosure: Analyst has delta neutral positions in Nifty and investments in shares.

Source : MoneyControl

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