mkrocks2003

BPCL Forms INVERTED HEAD AND SHOULDERS PATTERN

NSE:BPCL   BHARAT PETROL CORP
An inverted head and shoulders patter was identified on the 15 min chart of BPCL after the closing on Friday. The shoulders ( Rs .354) )may act as a major resistance level for the same, and surpassing it may give us levels upto 360. On the contrary, the neckline ( Rs . 349) may act as a major support level . If the price falls below this level we can witness a downward trend till Rs . 344.