BPCL Gann Octave Analysis

Jan 10, 2021

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
  
  

Jan 13, 2021

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.

Jan 13, 2021

Trade closed: target reached

Both positional and intra day targets achieved.

Jan 13, 2021

Note

Important levels to watch:

430 (Trend line Resistance)

437 (Gann Octave Level)

Jan 15, 2021

Note

At multi year trend line resistance.

Jan 18, 2021

Note

Back to 400 zone.

Jan 21, 2021

Note

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

Jan 30, 2021

Note

Narrowing triangle.

Feb 9, 2021

Note

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