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BPCL: A case study of history tends to repeat itself

NSE:BPCL   BHARAT PETROL CORP
64 0 1
A few days ago when BPCL             was around 735 it was suggested that the stock might fall & come to 700-680 levels....

We had highlighted three candles in that chart...



Now look at history of the chart closely...
Can you see some similarity in the pattern...
how the stock has behaved on previous occasions when such pattern emerged not so long ago
and see how it has fared on previous occasions and this time...

Has history not helped us...

Did the stock not try to tell us well in advance ...


To elaborate This 3 candlestick pattern is called...

Bullish Morning Star in case of reversal is happening from previously down movement to fresh upside movement

&

Bearish Evening Star in case of reversal is happening from previously up trend to fresh down movement...

Hope you find value in this Technical Analysis with Live example of BPCL


Take care &
Happy trading...


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Take what you can... give nothing back...!!!
Cheers
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