BPCL - Strange run

BPCL is making some smart moves in the recent rally. Some of the interesting facts in this move.

• MACD is still in the 'buy' zone. The column bars are increasing and hence there looks like some more room for the rally.
  
• RSI, due to the recent rally, is moving towards the range of 60. A good reason for investors to be cautious.
• The most important part of the chart for BPCL is in the Accumulation and Distribution section. There are more number of shares that is getting sold than being bought. Oil has seen some correction over the past couple of days. However, given the price reduction, there is still some more room for loss in selling oil.
• The stock is at its 200 day average and there is a big chance of it being broken
  
• The stock has met a resistance at this level last time in July.
  

Overall, the stock is something that I would avoid given the huge volatality in oil prices. However, interested investors could look at targets of 372 on the upper side and downside support at about Rs. 320.