PriceTimeSquare

BPCL Gann Octave Analysis

NSE:BPCL   BHARAT PETROL CORP
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

Comment: 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.
Comment: Important levels to watch:

430 (Trend line Resistance)

437 (Gann Octave Level)
Comment: At multi year trend line resistance.
Comment: Back to 400 zone.
Comment: Bounced again from 400 on 18th Jan | Heading towards trend line resistance again.
Comment: Narrowing triangle.
Comment: Broken out above triangle resistance | Currently trading near breakout level | Sustaining above 437 would confirm further up move

Comments

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