An inverted head and shoulders patter was identified on the 15 min chart of BPCL after the closing on Friday. The shoulders (Rs.354) )may act as a major resistance level for the same, and surpassing it may give us levels upto 360. On the contrary, the neckline (Rs. 349) may act as a major support level. If the price falls below this level we can witness a downward...
Symmetrical Triangle + Good Earnings + RSI trendline break suggests a buying opportunity.
BPCL may give you targets of 274 in short term
BPCL stock very weak on all TFs. Further BD of TL below the level of 348 for the next target level 318 with SL 358. This is for your educational purpose.
My personal view - BPCL is either forming a corrective wave pattern or a triangle ( if trendline holds). Since its a weekly chart not going for short strategy (since its bearish now for short-term) Will wait for proper levels to consider it for portfolio long term. My view is around 200-220 levels - lets see how the chart unfolds ahead. Feel Free to correct me :)
Hi Traders, BPCL is again a positional trade. It needs some confirmations, waiting for it to see rejections at its support bed of 313-330. Upon confirmations we can enter the trade as follows: Entry: 325-335 Target: 375 (60%), - 380 (10%), - 415 (15%), - 452 (5%) SL: 306 Keep following for confirmation.
BPCL price saw a dip with the ongoing issue, approaching an attractive price for investors....255/310
BPCL price saw a dip with the ongoing issue, approaching an attractive price for investors....260/310
Buy above 355 for targets of 365-370 with stop loss below 348. Trail SL closely due to downside risk.
Note: This is for educational purpose only. There is a bearish breakout in descending triangle with ultra high volume.
Analysis based on price action and right now BPCL formed symmetrical triangle Target can set as per support & resistance one can see a BULLISH PARALLEL channel also once it break the Trendline GO LONG LIKE the idea if works
Watch & see the BO or BD from the channel range BPCL chart will get good results. Always do trading as per your Reward to Risk ratio .The ideas sharing is for educational purpose only. In case any suggestion advice required feel free to ask. Watch the August month performance sheet. All trading ideas freely shared here for your education & support. drive.google.com
Bharat Petroleum Corporation Limited : Public Sector Oil & Gas Company ( NSE:BPCL ) is Making Strong S&R Zone (ZONE BREAKOUT TRADE). This can become a very good trade for INTRADAY traders. Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this...