Trading strategies for oil-related stocks as Brent crude tops $105 level

SpiceJet, Berger Paints and BPCL look weak on charts, while ONGC could gain another 4-8%.

Brent Crude topped the $105-level for the first time since 2014 as Russia launched an offensive invasion of Ukraine on Thursday. The geopolitical event further tighten the oil supply and invited sanctions from the western world.

The shocking onslaught, shook markets acorss the globw - European markets plunged nearly 4 per cent, while Indian indices BSE Sensex and Nifty 50 dived 5 per cent each on Thursday. The Indian benchmark indices posted their biggest intraday loss on Thursday, since the sudden Covid-19 led lockdown in March 2020.

Shares of oil related stocks displayed a mixed trend on the last