TradersVenue

AscendingTriangleBO

Long
NSE:BPCL   BHARAT PETROL CORP
BPCL has made a AscendingTriangle breakout in daily scale. Post breakout it completed BO retest. Copy book target for the pattern is 545 which is 25% away from neckline 433. Its a very good positional #Investment candidate upon this pullback. Monthly RSIStairs also broke out above 55. ADX rising and above 22 indicating momentum in bulls favor. Hedgers may think of hedging it. Breakout above 481 it will gain further momentum.
Comment: Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

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