BPCL long opportunity
BPCLStock -> BPCL
TimeFrame -> Weekly
Hello all!
BPCL has been moving in a channel since Sep 2017. Its came back to its lower trendline, took support, bounced off and now has broken trendline 1 with good volumes. This makes for a good opportunity to go long!
Risk-averse traders should wait for a strong closing above the nearest swing high (yellow box). The stock will start trading above its 50-week EMA after it crosses the swing high and thus the probability of success would be much higher
*NOT A CALL*
#BPCL #technicalanalysis #stocktrading #swingtrading #nifty #markets #trading #investing
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.