varadtambolkar

BPCL Huge breakout possible in coming days.

Long
NSE:BPCL   BHARAT PETROL CORP
All logic explained on chart.

check link to previous BPCL daily chart .
Comment: Yeollow marked zone is 2014-15 supports
Comment:
There can be a attempt to fill this gap
Comment: Upper wick today on weekly bar.

Stay cautious, more confidence when crosses this weeks high.

Comments

Looks good.
What SL would you suggest ?
+27 Reply
varadtambolkar sckeshari344
@sckeshari344, around 335
+4 Reply
thewealthcreator94 varadtambolkar
@varadtambolkar, risk reward ratio is not even 1:2
Reply
varadtambolkar thewealthcreator94
@thewealthcreator94, i played safely because there are Many people who keel sl in system and they are kicked out in Wick

I follow strictly weekly close levels.it comes out to 350 min.

Qty to be bought is max 1/3 or 1/2. As breakouts can fail 100% qty cna give you big loss. When it breaks out ads rest of the qty and bring overall stoploss below breakout candle keep margin of 3 to 5% form low. Then you will get good RR or you stop loss can come near tl entery price.

I've seen people wait for breakout wait for restest and then enter. Even if they palce sl below previous swing low RR is very low. This is. breakout Trade risk is high so is the reward.

๐Ÿ˜€
Reply
Gangaram0719 sckeshari344
@sckeshari344, SL 377, otherwise 359
TG1- 465, TG2- 510
+1 Reply
varadtambolkar Gangaram0719
@Gangaram0719, ๐Ÿ‘๐Ÿพ
Reply
guptagaurav825 Gangaram0719
@Gangaram0719, what is the expected time?
Reply
Gangaram0719 guptagaurav825
@guptagaurav825, It's a weekly chart. You have to wait for at least 2 to 3 months. Else book your desired profits on short term basis on daily timeframe.
Reply
varadtambolkar Gangaram0719
@Gangaram0719, perfect ๐Ÿ‘๐Ÿพ
Reply
Gangaram0719 varadtambolkar
@varadtambolkar, thanks, im learning & practicing :-)
Reply
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