NeeteshJain
Short

BPCL BREAKING SUPPORT LEVELS

NSE:BPCL   BHARAT PETROL CORP
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.

Target: 603
Stoploss: 645

Trade active
Comment: Reaching to Target, Regards
Trade closed: target reached: Today, Target reached to support levels of 603-605, Regards

Comments

Great call sir, Target reached in one day
+1 Reply
NeeteshJain datturocker
@datturocker, Yes, It did pretty well. Thanks, Regards
Reply
Sir..newbie here...On my chart the low for the day never touched 603..its around 605...So you still closed the position? Thanks...
+1 Reply
@ojas, Close near support levels made us exit the trade. Regards.
Reply
ojas NeeteshJain
@NeeteshJain, Ohk..Got it..Thank you
Reply
what is the magic that you always right.Thanks a lot for your kind guidance
+1 Reply
@DebuRoy, Practice and more practice. Thanks for the generous remarks. Regards
Reply
bullish divergence too on MACD, would it try to hit 38.2% before falling
+1 Reply
SHVMaverick SHVMaverick
@SHVMaverick, Sir, did not care about divergence. Moving towards your predicted target.
Reply
SHVMaverick SHVMaverick
@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.


Reply
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