I think it is the right to buy this stock. SL will be 395. Target is around 440 and 480-485.
Disclaimer- The chart is for educational purpose only. Invest/trade at your own risk.
Disclaimer: The chart is for educational purpose only. Invest/trade at your own risk.
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. 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. target 525
Buy above 420 TGT 440/480 SL - 400 (DCB)
a. Zone: Neutral b. Resistance 1: 418.95(Double Top Bearish Pattern) c. Resistance 2: 420.55 d. Support 1: 409.10 e. Support 2: 402.60(Double Bottom Bullish Pattern) NSE:BPCL
RESISTANCE: 420-430 SUPPORT: 408 BUY/SELL ON FORMATION
Smart money accumulated before starting uptrend. They will try to defend the position by buying when price comes into buy zone. Regards MuneshV
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...
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BPCL CMP is 402, which is a sweet spot to accumulate and go long
I 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...