BPCL giving a break out of cup and handle pattern.
BPCL on the daily time frame has given a break out of a cup and handle pattern.
The stock has taking a halt near the resistance zone and gave a break out after a selling off from the level.
3 points confirmation.
1. Break out of the cup and handle pattern.
2. Closed above both the moving averages.
3. High trading volume on the break out.
The stock has finally given a break out and can remain in bullish move tomorrow.
Let stock price to retest the support and cross 350 price level and enter only after it sustains above the level.
Targets :- 353.5, 359
Stop loss :- 337
Trade can be traded if there is a price action near the support level.
Intraday and swing trades can be initiated in the stock.
Investors can also create positions in the stock with a long term view.
The stock has taking a halt near the resistance zone and gave a break out after a selling off from the level.
3 points confirmation.
1. Break out of the cup and handle pattern.
2. Closed above both the moving averages.
3. High trading volume on the break out.
The stock has finally given a break out and can remain in bullish move tomorrow.
Let stock price to retest the support and cross 350 price level and enter only after it sustains above the level.
Targets :- 353.5, 359
Stop loss :- 337
Trade can be traded if there is a price action near the support level.
Intraday and swing trades can be initiated in the stock.
Investors can also create positions in the stock with a long term view.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.