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BPCL

Bharat Petrol Corp: Uptrend Continues After Multi-Year BreakoutAnalysis: The chart you provided shows BPCL's stock price currently trading at ₹558.38, which is above the multi-year resistance level of ₹541.60 marked by the blue line. This recent breakout, accompanied by strong volume, suggests a potential continuation of the uptrend. Key Points: Breakout confirmed : BPCL successfully broke above the multi-year resistance level, indicating a potential trend shift from resistance to support. Uptrend momentum : The price continues to climb after the breakout, suggesting sustained buying pressure. Volume confirmation: Increased volume during the breakout reinforces the bullish sentiment. Trading Strategies: Aggressive: Enter long immediately if the price sustains above the current level (₹558.38) with continued buying volume. Set a stop-loss order below the breakout level (₹541.60) to manage risk. Potential short-term target prices could be ₹580 and ₹600 based on chart patterns and Fibonacci extensions. Conservative: Wait for a potential pullback towards the breakout level (₹541.60) Enter long if the price finds support at the pullback level and shows signs of bullish reversal (e.g., hammer candlestick pattern). Utilize a stop-loss order below the pullback low for risk management. Additional Considerations: While the technical analysis is promising, remember that the stock market is inherently volatile. Conduct your own fundamental research to assess BPCL's financial health and future prospects before making investment decisions. Manage your risk effectively using stop-loss orders and appropriate position sizing. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
NSE:BPCLLong
by TRADING-NASA
BPCL | Swing Trade📊 Details Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products. Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BPCLLong
by Munish_Jain
BPCL-A Review for 8th Jan'23 ideaInverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head. The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above. The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline. TRADING STRATEGY: Buy on CMP 355-54 zone , keeping SL of 320 look for the target of 415-430 zone.
NSE:BPCLLong
by TradingSutra
2
bpcl about to give a breakoutChart is self explanatory. Just for education purpose, points to be noted In this type of formation an entry is typically taken when the price breaks out. Buying happens if the breakout occurs to the upside, or short/sell happens if a breakout occurs to the downside. A stop loss is placed just outside the opposite side of the pattern. For example, if a long trade is taken on an upside breakout, a stop loss is placed just below the lower trendline. Note: This chart is for educational purpose only!!
NSE:BPCL
by hardeepssethi
3
BPCL - Bullish Swing Reversal with VolumesNSE: BPCL is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:BPCLLong
by BrahmaBull31
Long Setup in GOCL CorpA bullish flag & pole Chart Pattern Breakout completed on the Weekly Time frame of NSE:GOCLCORP Price Action supported by very good volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart Stop loss will be on a weekly closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish flag & pole Chart Pattern Technical Indicator :- Positive MACD Crossover Disclaimer: This is for educational purpose only.
NSE:GOCLCORPLong
by raigvivek
3
BPCL Swing TradeBCPL has broken below the support zone, which has been tested multiple times in the past. This presents a good opportunity for a small swing trade. Entry: To take advantage of this situation, we can initiate a short position as soon as the next candle opens. Stoploss: For risk management, it's wise to set the stoploss just above the support level, with a little buffer added. Target: Our target for this trade can be set near the next support level, as indicated on the chart. Thank you, Please like and follow me.
NSE:BPCLShort
by vt_trader
3
BPCL BOBPCL breaking out of Inverse H&S. CMP 349 SL below 325, Target around 400 RR 2.29 Ideal entry could have been around 342-343 RS Looking strong on daily, RSI and MACD are in uptrend. Moving averages are also going in uptrend. With PSE index looking good, this looks a good trade. Disclaimer: The buy and sell recommendations provided in this report are for informational purposes only and do not constitute financial advice. The information contained in this report has been obtained from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Any opinions expressed in this report are subject to change without notice. Trading stocks involves substantial risk, including the loss of all or a portion of your investment. Before making any investment decisions, you should carefully consider your financial objectives, risk tolerance, and financial situation, and consult with a financial advisor if necessary. The information and recommendations provided in this report are not intended to be used as the sole basis for making investment decisions. You should conduct your own research and analysis, and consult with a financial advisor before making any investment decisions. The author and publisher of this report are not responsible for any losses or damages arising from the use of this information. By accessing this report, you agree to hold the author and publisher harmless from any losses or damages arising from the use of this information.
NSE:BPCLLong
by Triyambak_CA