It has closed at Rs 395. The bullishness in the scrip appears to have been based on expectations of reduction in import duty on crude and therefore a gain to the bottom line. In fact, other scrips in the refinery sector, HPCL and Cochin Refinery too have been on the uptick.

HPCL too has started reacting now. Technically speaking, BPCL could move up to Rs 442 and further up to Rs 470 levels. This is based on the scrip's previous price history. However, the scrip having moved close to these targets appears to have fatigued.

The daily stochastic indicator has signalled a sell. It is time you booked your profit, before it slips away. You can always re-enter it lower.