Anwar_Khan

BPCL Multi-Month Resistance - Breakout expected

Long
NSE:BPCL   BHARAT PETROL CORP
Multi-Months breakout (465-480) expected in coming days. BPCL Also announced a huge dividend and a results with good Net Profit. Buy when the resistance in the chart breaks with a strict stop-loss if the breakout fails. Targets are mentioned on the chart but sell if a trend reversal is seen before 'target2'. Good luck!!
Comment: BPCL opened higher and came back into the no trading zone. Will try to take trade if BPCL breaks 482 levels and sustain their.
Trade active: Bought 30% qty @ 477
Trade active: BPCL came down 472 and made a downtrend channel, this can also be a 61.8% retracement. If 471 levels are broken to the down side, i will wait for a trend reversal sign to buy more quantity
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