Swing Opportunity in BPCL
Updated
Go Long above 428.1 for Targets of 442, 455.9, and 469.8 with SL 414.2
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong trendline (marked with green color), which is providing support to the stock.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong trendline (marked with green color), which is providing support to the stock.
Trade active
Entry triggered on 9 Nov 2021Trade closed: stop reached
SL hit on 17 Nov 2021
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