There is a higher probability for a reversal from the short-term double top levels. The price of crude oil in the international market is expected to rise in the coming weeks. The inflation worries have also not subsided. The fact that the market has peaked, in spite of all these factors, adds to the possibility of a reversal in the price action, in the coming weeks.
BUY BPCL WITH A PROFIT TARGET OF 10%. Let's see who's right. :)
Sniper-Traders
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@GalaticX, Quite possible. I had my entry around 298 and was in good profit already. So booking profit and waiting for a crash was not a bad decision as far as I'm concerned. Even if the market rallies further I'm ok with it since I moved the fund to better positions.
GalaticX
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@Sniper-Traders Considering that, it was a smart move though.
Let's see who's right. :)