Updated

BPCL Gann Octave Analysis

Gann Octave captures majority of tops, bottoms and consolidation levels so far
CMP 400 (a square number) is also 50% retracement level from all time high, hence an important trade level
Supports: 363 / 326 / 301
Resistances: 437 / 474 / 499
Gann dates in JAN: 01 / 11 / 14 / 19

Note

BPCL Trade Setup

Positional: Close above 404 Target 424

Intraday:
Buy above 404 | Targets 408, 412 and 416 SL 400
Sell below 398 | Targets 394, 390 and 385 SL 402

Not a recommendation. Trade at your own risk.

Trade closed: target reached

Both positional and intra day targets achieved.

Note

Important levels to watch:

430 (Trend line Resistance)

437 (Gann Octave Level)

Note

At multi year trend line resistance.

Note

Back to 400 zone.

Note

Bounced again from 400 on 18th Jan | Heading towards trend line resistance again.

Note

Narrowing triangle.

Note

Broken out above triangle resistance | Currently trading near breakout level | Sustaining above 437 would confirm further up move

MoneyNaad

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

MoneyNaad

Also on: