BPCL
Updated
Observations from the chart
- This is an hourly chart
- In the sort term the stock is in down trend
- However in slightly medium term the stocks looks likely to be in up trend channel
- 675-680 if holds as support then the stock may again resume it's up trend
- targets on the upside in that case 738 initially and above that the stock has the potential to rise to channel top which could be around 820
- The stock although not exactly at support but is coming near lower end of the channel support zone...
- Keeping a close eye on the stock and waiting for the stock to give confirmation of reversal
- This is a medium term view
Take care & safe trading...!!!
- This is an hourly chart
- In the sort term the stock is in down trend
- However in slightly medium term the stocks looks likely to be in up trend channel
- 675-680 if holds as support then the stock may again resume it's up trend
- targets on the upside in that case 738 initially and above that the stock has the potential to rise to channel top which could be around 820
- The stock although not exactly at support but is coming near lower end of the channel support zone...
- Keeping a close eye on the stock and waiting for the stock to give confirmation of reversal
- This is a medium term view
Take care & safe trading...!!!
Note
This is a long term view
Support around 633-651 zone
Target around 1020-1040 level over longer term
There you go...
BPCL short term medium term and long term picture in front of you
Take care & plan ur trade accordingly...!!!
Trade active
BPCLCMP 669
Going long partially with the understanding that the stock can fall further down to 630 odd levels.
Hence keeping provisions for the same in case it comes
Again this is not a day trade view but positional view
Review ur trading plan and if it suits u then plan ur trade accordingly...!!!
Safe trading...!!!
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