BPCL - INVERSE HEAD & SHOULDERS PATTERNAn INVERSE HEAD & SHOULDERS PATTERN is a clear cut indication of a breakout. A BIG BREAKOUT...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
BPCL
Long - BPCL - Parallel channel within the Parallel channelHi Folks,
BPCL daily chart has two patterns inside a big pattern. Inside big parallel channel, there is a smaller parallel channel near breakout point. And also, there is a Cup and handle pattern not the clean one, but it is there.
Looks good for long
Enter only if it breaks 405 or 415 level
Strict stop loss of 371
I hope you will benefit from this knowledge
-MetaVish
BPCL CHANNEL 30MINThis is BPCL in 30min timeframe. As you guys can see it is travelling in a channel. There are high possibilities of it giving a breakdown in the coming trading sessions. Even nifty looks weak as it is approaching overbought zone. A correction in nifty will result in correction of the stocks as well. BPCL is one of the stocks that will correct if nifty corrects. You can keep an eye on BPCL and trade the breakdown. Happy Trading!
BPCL interesting trendlineBPCL has a trend-line that provided stiff resistance to the stock.
Once the breakout happened, the same resistance acted as a support.
Goes by the definition of a support and resistance trend line - "A trend line that is acting like a resistance starts giving support the the instrument's price once the breakout through the resistance happens.
Stay long in BPCL.
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NSE:BPCL