AbhishekHSinghCMT
Short

BPCL- Can Oil leak below 651 till 605

NSE:BPCL   BHARAT PETROL CORP
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In previous update- well critical level played its magic twice, first came to 650 & later at 649- Amazing selling opportunity- read between the lines & key level 632 also showing its importance for a short term bounce to 644 in yesterday's session end.

Triangle could be in making with critical level@651- so, possible that it moves to the zone 598-605 in the upcoming market session.

Trading Strategy
Selling below 651 in the zone 642-647 with strict stops above 651 for target zone 598-605 as next support. Kindly follow proper risk management to get the most out of the trade.

You would love to read my previous update

Trend is your friend- avoid buy below 651
Trade active: 12:44 Hrs 22nd March2017

Last Price@640

Today in 1st half Market opened at 635 -rushed to 628 & bounced to current levels of 640
Selling is advised only in the 642-647 with critical stops@651- Critical which should not be taken out on upside.

So till 651 is intact - we will search for selling opportunity close to that high.
Trade active: 15:17 Hrs 22nd March2017

Last Price@644.50

Again selling was seen from 649 below 651 - made made intraday recent low@641
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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