aryanamar

HOW I TOOK A 10% MOVE IN BPCL

NSE:BPCL   BHARAT PETROL CORP
Trading the fibonacci retracement level is one of the things i love but with good volume its a pie with an extra chocolate.
This is how is took a 10% move in bpcl . When the stock made a 6% move on 16th July I opened its charts and studied it, I saw the stock was near 50% retracement level.The stock was showing strength, I wanted to make a move if it crossed 50% retracement level. I bought it at 396 when i saw good volume and price near 50% retracement level with a stop loss of 385 and sold it at 440

Comments

Great pick.
Even I have analysed BPCl and caught the big move.
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aryanamar nikhilvenkataraviteja
@nikhilvenkataraviteja, great brother..
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What is next move ??
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aryanamar paresh5310
@paresh5310, rsi above 80 on 1 hour chart and above 70 on 1 day chart, so it could consolidate for some time now. I will wait for a crossout from next resistance or see if it faces strong resistance their.
+1 Reply
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