praveen.bhatiya

Engulfing @ significant Zone

Long
NSE:BPCL   BHARAT PETROL CORP
It seems that 374 level is strong demand zone . Parallel Channel , double bottom , RSI coming out of overbought zone and latest Engulfing bar suggesting a long trade with small stop loss. One can easily expect 2.5 times reward of risk being taken in this trade.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.


Trade active
Trade active: Target (2.5 times of original risk)achieved however continuing with trailing SL.
Trade closed: stop reached

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