n e w y e a r t r a d e idea will like to go long in BPCL on monday as see it as a low risk but good return kind of stock . corrected enough , possibly i might go 100 % correct
BPCL
BPCL Rising WedgeBPCL has been moving in the rising wedge for more than a year. currently on the bottom of the lower edge, awaiting a breakdown or reversal.
BPCL Trendline BreakoutBPCL has been moving in down steps for a while, respecting the Sup/ Resistance levels along the way.
Currently on the edge of trendline for a possible breakout/reversal
BPCL @ 61.8% of Fibonacci support. Waiting for green candleNSE:BPCL Daily chart. C wave seems to be touching 61.8% Retrace of Fibo. If green candle at this level & stock crosses above 530 on daily candle closing basis it may touch 580 by December 10. Stop below C level = 490. Go long only if long bullish candle at this level. If C level breaks, Trade level becomes invalidated. (bcz 78.6% retrace is not trustworthy) ..
BPCL Lifetime high BreakoutBPCL is retesting the lifetime high levels that it made recently. ALso completed the bat on the neckline. Awaiting a reversal of breakout.
BPCL Up ChannelBPCL has been moving in an up channel for over an year.
Median acting as a good indicator of crossover to the other half.
CUrrently its testing the median, for a breakout into upper half or a reversal.
BPCL BreakoutBPCL recently made it lifetime high, now in a retracement.
Weekly trend is still very bullish.
BPCL : Upside is ideal,Right ?!480's expected on Bullish breakout, can be extended ranging in BPCL if that happens re-align the pattern :)
BPCL - CUP N HANDLE BULLISH PATTERN It is been observed on the 15 minutes chart that the price action forming cup and handle pattern, indicating a bullish move ahead.
Target 1: 632
Target 2: 638
SL: 620
Pitchfork and 3 Drive on Top SHORT The stock has formed 3 Drive on Top pattern and we can see the similarity at distribution Zone at top 2 and 3. It is also touching the upper Median line thus giving a good entry for shorting the stock. Those who could afford the stop loss of 745 can short it now and expect a target of 650.
BPCL - Bullish Shark Pattern Formation (Scenarios)It is been observed on Daily chart that the price action is forming a harmonic ratio pattern called Bullish Shark Pattern. Now, I have shown two scenarios of the same chart where we can see retracement as per the chart measurments and pattern.
Retracement 1 (88.6%) - can been seen near 640 levels and Retracement 2 (1.13%) can be seen at 615 levels.
It is for the purpose to see how the pattern unfolds.
Incase, if you have traded Shark Pattern before, then share your experience below in order to learn from your experience.
Thanks,
BPCL is a positional buyAs per the Hourly chart BPCL is a buy for positional. Add more if it crosses first resistance
Maintain stop loss of 665.
BPCL : Here is the Game for You !Choose what you wish for as per your trading plan. On a channel breakdown Intra players will be shorting and on Positional side they will be long when BPCL gets back to harmonic entry levels.
Happy Trading !
Energy companies are toastThe CNXENERGY index is showing ominous signs.
These stocks haven't been doing too well recently but have enjoyed a sustained uptrend.
It's time for reversal now. The fundamental picture is not at all good and this move downward is just getting started.
For more thorough analysis, check out my daily NSE dashboards at
rpubs.com
BPCL : Pullback in our Entry zone !This is simple entry setup in BPCL, I have no further views on Nifty, its getting single sided... To do some analysis, Market needs to be dynamic & spread all over the zone Up , down n range.. But All we are seeing in Nifty is just a straight line to upside, so skipped post for the day. Enough of Nifty, lets get back to BPCL, the entry setup is just based on pullback to support zone & on bullish confirmation in the zone , we can take the trade.
But what if BPCL gets gap up or never comes into our zone or no bullish confirmation - No Trades
As simple as that...
Happy Trades !
Flag Breakout/Down - BPCLTrade the flag Breakdown.Support from trendline . Short if breaks 727 and closes below.
Or if it takes support at 727-728, Buy for a target of 742 & buy above 742 in case of breakout from the flag.
Double top on Daily and weekly TFs.
Bounce for BPCLAfter the recent news flow there was a sell off in this counter. However, that was a sector wise sell off. The open interest data suggest that majority in the market are positive on this counter and here is the snapshot - www.screencast.com Expecting the reversal to hold and go back to the previous highs.
Immediate target 700 and stop at 600
Head and Shoulder formation on BPCLHead and Shoulder formation on BPCL on 30mins timeframe.
Trade :
Short below = 629
Target 1 = 621
Target 2 = 616
Stop Loss = 638
Reward Points = 13
Risk Points = 9
bpcl - a relief rally for educational purpose only - bpcl after breakdown of head n shoulder pattern it reached it's target but here hammer doji with good volume (means smart buying of fear sell) buy above 636 with sl of 622. for tgt of 657 - 660.
