BPCL
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
BPCL -RIGHT TIME FOR LONG POSITIONBPCL
Showing "Triangle Pattern" Breakout and Retest successfully done in 'Daily' time frame , as shown in image. Can go for LONG Position for good targets.
This my view on above stock. Have our on Analysis before taking any further actions.
This for and only my view for educational purpose.
BPCL looks like it has succesfully retested the trendlineBPCL showed a great up-move after it broke out from the trendline. Then, it re-tested the same trendline and bounced back.
This is the stock to go long.
I had posted a very successful idea about BPCL. Please check the related idea section.
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BPCL ShortBPCL CMP 412.85
Resistance - 435, 545
Support - 370, 325 , 310
BPCL may give a news-based move tomorrow. Although stock already discounted earlier when Saudi Aramco declined to bid in the stock in its disinvestment, Govt closed the date for stake selling today and no major investor has shown any interest in bidding. We can again expect an immediate down-move tomorrow. 370 is a strong support level for the stock. A gap-down start is also expected. But stock has potential to show growth in long-term.
BPCL looks bullishBPCL forming symmetrical triangle pattern and the breakout happened upside. Buy it after retesting for a target of 1385+ in a time frame of 1-2 weeks