BPCL
Long on BPCLBPCL has already broken its long term trendline for a long move. A breakout from the other trendline will confirm the uptrend for a target of 473 with a stop loss of 461(Risk to reward of 1.5).
BPCL in support AreaBPCL is near to Support area 472-475 is that but lets see wait for confirmation
Trend line also showing same but let's see volume and price where it open and if sustain above 585 then may see target 500+
Running into a resistance/supply area.BPCL has been moving sideways to down since last few months. The levels of 480 - 485 will be acting as resistance. We can notice a gap as well. The RSI is trapped into sideways range. The 480 - 485 levels needs to be broken off to re establish trend up, failing which the stock may still correct further,
BPCL Trading IdeaA clear downside move in the Awesome Oscillator, so we enter at below the last down fractal for a shorting opportunity.
Potential H&S Pattern in BPCLShort below 500 until the gaps are filled at 472
Please note that the view is from a learner.
BPCL - BOXBPCL consolidating in a range since a month. If it breaches 500 on a closing basis, expect start of a downtrend.
Below and Above Boundation For BPCLPurely for study purpose.
Two important support and resistant area.
A very crucial price action bar formed on BPCL todayBPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can will not be a good news for BPCL bulls.
BPCL on bullschart says buy above box for next box..
please do your own analysis, this is just record my trades :)
