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BPCL

BPCL with a CUP & HANDLE FORMATION?SWING TRADE OPPORTUNITY IN BPCL As you can see in the image above that BPCL has broken out of a CUP & HANDLE formation and has come to level which is very favourable level to go long. A Cup & Handle formation usually comes with its own Targets, which is, the price difference between the neckline of the cup to the lower circumference of the cup. As shown in the image above. To be on the safe side of the trade, we have taken the Inner Circumference into consideration and not the Outer Circumference for the Price Range , so that we are able to gauge the targets better. The First Target for this trade is around 450 price levels , the Second Target is around 465 price levels . We can maintain a strict trailing Stop Loss with it starting at 380 . if the trade is succesfull and reaches its 1st Target we get a favoyrable Risk:Reward ratio of 1:3 . Happy Trading & Investing, let me know if you liked the analysis and please give your feedback to help me publish ideas better.
NSE:BPCLLong
by Furqaan
BPCL : Break out trade potential...BPCL CMP 380.50 - since June 2020, we observe, BPCL consolidating in channel and then giving a spike up or down - channel zone is nearing breakout time zone - momentum might be seen above 389 - multiple support between 355-368 - at CMP & on dips the stock provides good risk::reward ratio to go Long for targets of 408 / 440 / 473 - Stop loss if trades below 353 ___________________________________________________________________________________________________________ Alternatively one may consider selling 28 January 2021 expiry 360 Put option between 9-12 (CMP 9.5) Lot size 1800 Max profit potential Rs 16200/- - Rs 21600/- per lot Inbuilt Loss protection in strategy for a fall in price up to 351-348 till January 28, 2021 Take care & safe trading...!!! Hit the Like button / comment below if you find it useful Follow for more such trading ideas... Take care & safe trading...!!! Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:BPCLLong
by indiamarketoutlook
#BPCL #HINDPETRO #IOC #OIL #ONGC #PETRONET #PETROL #BITCOIN #NSE#BPCL Bharat Petroleum Corporation Limited. CMP: 399 TARGET: 436 // 478 G-O-I undertaken stock is in limelight, BPCL. As the state run petroleum company plans for divestment, there is going to be a lot of opportunities for retail investors and traders. Govt. plans to sell off almost 53% stake from the company and it receives MULTIPLE bids. Stock is expected to have a strong valuation and would be expensive from the current rates. There are various reasons to invest in this stock. 1. Trend Analysis: The stocks is in pace to reach highs. Running in uptrend, climbing ladders, step-by-step. Steadier and stronger with each end of the day prices. 2. Fibonacci Retracement: Retracing from 50% levels to make higher highs. Supports acting strong and giving a better push upside again and again. 3. Moving Averages: All the moving averages running alongside. All the bigger moving averages below the prices gives the candle more strength to be firm and erect. Bears fears. Prices fear to fall. 4. Pattern: Prices are making higher lows to show the pictorial representation of price trend. Making a Bullish Wedge kind of pattern with periodic time span. 5. Volume: Extremely large volume trading has been encountered in the stock. The huge Volume is representation of higher investors' money flowing in towards the stock. The huge Volume candles along with huge BULLISH Price Candles represent the strength of BULLS. 6. Momentum: The stock being in news, a large number of traders rush towards it and make various analysis to get the intrinsic value. The higher the bidding value, the higher is the price. The bids create excess of demand for the stock and thus price moves upside. The stock has just got the momentum. A rally is expected soon. 7. Strong Bull and Weak Bear: The Bullish candles are mightier and look like "katana". Big Bull candles show the presence of demand over and above supply, and thus a potential for upside. On the contrary, the bear candles are small and of less volume. Explaining the distribution and consolidation of previously purchased shares. Go ahead with the stock, with a limited down side risk. SL: 385 RR Ratio: 1:2 // 1:5 If you like my work, kindly LIKE the post, SHARE it with your friends and family, and FOLLOW the page to get free stock recommendations frequently. Thankyou!
NSE:BPCLLong
by Rachit_Sethia