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SanjogY
Feb 5, 2024 7:07 AM

BPCL | Weekly Chart | 6 years BO |  Long

BHARAT PETROL CORPNSE

Description

Chart analysis on Weekly time frame:
Analysis:
1. Resistance zone is tested 5 times before final BO making it very critical resistance zone.
2. Before BO, consolidation happened supported by volume build up which eventually indicates that the stock accumulation is happening.
Breakout: Consolidation phase BO happened on 2-Feb-2024 followed by BO supporting candle.

Trade setup:
Entry price: If price closes above 577.85.
Stop loss: Below 522.3
Target 1: 667.7
Target 2: 813.1
Target 3: 855.9

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades

Trade closed: target reached

Reached target 1: 667.7
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