BPCL
BPCL - Intraday Trading Setup Smart money accumulated before starting uptrend.
They will try to defend the position by buying when price comes into buy zone.
Regards MuneshV
"PRICE ACTION ANALYSIS FOR BPCL"Hello Traders as per PRICE ACTION THEORY
I have drwan the directional arrows which price can follow for upcoming sessions!
If you want to trade enter in PullBacks for conservative entry and for agressive traders enter in the Breakout keep the stoploss above(Short) or below(Long) the last swing..
IF YOU WANT ANY OTHER ANALYSIS LET ME KNOW IN THE COMMENT SECTION OR DM ME!
Also checkout my other analysis and if you like them dont forget to like them and follow me!
-Rv The Trader :)
BPCL is getting ready to ride on the wave 5Hello! Friends,
I have come up with a new research an idea but, before starting to talk about technical things, Let's share your LOVE by you giving me LIKES and COMMENTS. Thanks in advance.
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"" DAILY CHART ""
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Here we can see daily chart of BPCL.
right now, in BPCL daily timeframe we can see the bullish trend. By applying EW Theory we get to know that wave 2 has a retracement of 78.6%. the 3 wave is not extensive but normal which has a retracement level of 161.8%. the retracement of wave 4 is 38.2% still the price spends more time on wave 4.
now, if you want to grab the profit, you need to ride on the wave 5 which has a retracement level of 61.8%.
there are high chances of wave 5 to be extended.
longterm take profit can be 520.
Thank you.
we will meet in the next analysis
SHORT BPCLI hope you can now see how BPCL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
BPCL : GAP TRADINGrisk:reward - 2.52 , 1st target - 427, 2nd target - gap range.
Levels given in the chart.
Like and follow for more intraday charts.
BPCLIts formed head and shoulder in 1 hr time frame
So to complete the pattern it may comes down.
by using fib level fix target
its my analysis
Do your own analysis
BPCL stock to be taken for long As per the marked TL stock of BPCL can be taken for the long entry at the level above 415 for the next target level of 440. SL can be set at the level of 390. After the 445 we can see more strength in the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
Watch the free trading ideas performance sheet for the month of July-2020
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BPCL looking only for buying opportunitylooking only for buying opportunity at support
always trade with stop-loss
manage your risk first profits comes later
BPCLPossible scenario for BPCL in coming days.
440/445 is the resistance if price cross that resistance than stock should reverse from 480 around.
RSI is 73 and above 70 considered as overbought zone (for safe traders/Investors). Risk Takers can hold their long position till RSI touch 80.
Stay Caution.
BPCL - Some important points to note before taking move*Educational purpose
overall market is in bullish mode so , better avoid bearish trade in bpcl if it faces resistance
HOW I TOOK A 10% MOVE IN BPCLTrading the fibonacci retracement level is one of the things i love but with good volume its a pie with an extra chocolate.
This is how is took a 10% move in bpcl . When the stock made a 6% move on 16th July I opened its charts and studied it, I saw the stock was near 50% retracement level.The stock was showing strength, I wanted to make a move if it crossed 50% retracement level. I bought it at 396 when i saw good volume and price near 50% retracement level with a stop loss of 385 and sold it at 440
BPCL - Bullish BreakoutNote: This is for educational purpose only.
There is a bullish breakout after build up near resistance. However, as RSI is above 70, there might be some consolidation for few days or a pullback for a further rally.
BPCL Retesting for Intraday once again So we have now triple confirmation which only comes from price action
1.It is the pullback in the downtrend and retesting the major trendline.
2.Price has created double top at the major trendline.
3.The wick rejection is perfectly at the 50% Fib retracement area.
Please also have look at Nifty
It is not advisable to trade against the Nifty Trend
So we have multiple reasons to take a wining trade now
I can be completely wrong so please analyze your own also
And if any help needed contact me!
