It is been observed on daily chart that the price action breaks breaking below the crucial support levels indicating further fall down. The price action signals that sellers are in dominance of the prices levels and now they may take to the next support levels around 603-600 levels.
Reaching to Target, Regards
Trade closed: target reached:
Today, Target reached to support levels of 603-605, Regards
@SHVMaverick, another check I should have put after divergence is to check for crossover of MACD above Signal. This did not happen in BPCL.
So, one signal never sufficient even on the same indicator too.
MACD divergence with crossover must for safety is the lesson from this trade.