Cyber Monday saleUp to 70% OFF

Bharatpetroleumcorp

Bharat Petroleum Corporation Ltd - Positional TradeDate : 10-May-2024 Rating : Buy - Positional Trade LTP : Rs. 618.65 Targets: (1) Rs. 687 --> (2) Rs. 770 SL : Rs. 580 on daily close basis Technical View: • NSE:BPCL is in its primary uptrend and was recently going through it's secondary downtrend. • After touching the high of 687.95 on 16-Feb-2024, it has retraced 19% to 556.40 level. • On 29-Apr-2024, NSE:BPCL has broke out from its secondary down trend with high volume and re-tested the down trend line twice, on 30-Apr and 9-May. • NSE:BPCL has also closed above 20 DMA, 50 DMA and 21 DEMA on 10-May-2024. • RSI is trading at 53.91 and MACD is trading at 4.01. • Looking good to start a new swing from here. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
NSE:BPCLLong
by vicky252
1
BPCL - Strategy to go longa. Prices are currently at the pivot point (Orange) b. Prices are currently heading towards the 1st support zone (Green). c. Current Trend confirms that 10DMA should correct itself by tomorrow or a day later. d. The pattern of creating a higher low is confirmed. Should the current position be assumed as a higher low then it can't fall too below 1st support and should instead head towards a confirming higher high. e. BB in daily frame shows that the price is trailing towards the lower band. f. Their earnings are going to be reported on the 5th of august. Need to observe if the rally starts before or after. g. Support and Resistance Band 1st Resistance - 451.30 2nd Resistance - 457.20 3rd Resistance 460.60 Pivot Point- 448.40 1st Support - 442.20 2nd Support - 438.90 3rd Support - 432.90 h. Trade Positions Entry: 442.54 Target: 461.52 (Rs 19/-) Stoploss: 440.47 (Rs 2.06) h. Wait for a confirmed course correction and enter only post that.
NSE:BPCLLong
by daivick