BPCL BOBPCL breaking out of Inverse H&S.
CMP 349
SL below 325, Target around 400
RR 2.29
Ideal entry could have been around 342-343
RS Looking strong on daily, RSI and MACD are in uptrend. Moving averages are also going in uptrend.
With PSE index looking good, this looks a good trade.
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BPCL
Watch the trendline breakdown for BPCLWatch the trendline breakdown for BPCL. should make 1 -2 halt candles and then breakdown will give good fall.
Please Note I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = BPCL
Time Frame = 1 Day
Bearish Harami A bearish harami is a two bar Japanese candlestick pattern that suggests prices may soon reverse to the downside. The pattern consists of a long white candle followed by a small black candle. The opening and closing prices of the second candle must be contained within the body of the first candle. An uptrend precedes the formation of a bearish harami.
Script = BPCL
Time Frame = 15 min
BPCL- Bullish HARMONIC Buy Signal!Attached: BPCL Weekly Chart as of 17th March 2023
Going by Harmonics:
A Bullish Anti Bat Pattern has got activated with this Week's Bullish Power Candle Close above 350. This is a BUY signal!🚀
Going by Dow Theory:
We see that Price has also put in its First Higher Low of 314 since the Lows of 288 back in October 2022. This is a Sign of a Trend Reversal Structure.
The Prior Trend was DOWN on the Weekly TF. Now it appears the Trend is turning on the UPSIDE.
Coming back to the Harmonic Pattern, our Plan of Action for a Positional Trade is:
Buy Entry triggered at Current Market Price of 351✅
Stop Loss can be placed below 52 week low which is ~ < 288⚠️
Upside Targets🎯 as follows:
T1= 380 to 400
T2= 480 to 500
T3= extension beyond 500 level, towards Prior ATH / New ATH
(Also do check out my related idea on BPCL which looks at the Daily TF)
...........
If I were to talk about some Fundamentals,
then BPCL also has a 4.5% Dividend Yield which is quite Attractive in a Rising Interest Rate Environment that the Global Economy currently is in
And so it is also a Buy if you consider the Dividend along with a Capital Appreciation potential📈
BPCL Bullish Breakout BUY!Attached: Daily Chart as of 17th March, 2023
- Price shot up a whooping 6.24% on 16th March (Thursday) and also held the Gains closing Higher on Friday
- Overall giving a Strong Weekly Breakout Candle closing above the 350 key level
- 315 level or the 0.618 Fib retracement held out perfectly as a support🙏
Indicator Signals:
- MACD crossed above 0 line ✅
- RSI crossed above 70 ✅
- DMI gave Buy signal ✅
- ADX is above 25 ✅
- An Inverse Head & Shoulder Pattern is currently active given the Breakout Candle📈
Upside Potential:
A Short Term Target 🎯 of ~ 400 is now Open
Stop Loss for the same is < 325
BPCL : Focus on Green Energy Today Bharat Petroleum has reclaimed the 50-day moving average .
The stock closed 6% up on a 498.7% greater volume than the 50-day average.
Rising stocks often rebound from their 50-day lines as big investors
You may want to keep an eye on the stock for further supporting actions.
Disclaimer -
All information on this page is for
educationaland learning purpose only.
I am not SEBI registered financial advisor.
BPCL Next Target is 297/285BPCL Breakout happened in a lower time frame i.e on 15 minutes.
So the next Target expected for BPCL is 297/285.
IN my previous calls, I explained about the movement of the BPCL, ADANIET and JSWSTEEL. Check my prev calls.
Explained about SL and the Target in the video posted in TradingView
Tradingview ( TanujaK) is my profile.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
#BPCL @BPCL BPCL 10% movement downward ;#BPCL @BPCL
BPCL 10% movement downward ;
Breakdown happened on lower timeframe, so expected target is 295
Almost 10% profit
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
BPCL Near Resistance ZoneBPCL is near resistance zone on hourly chart.
Long
we can go long if price breakouts & retest above the resistance zone. stoploss below the resistance zone. target will be the next resistance zone.
Short
we can go short if price makes strong bearish candle near resistance zone. stoploss above the resistance zone. target will be the next support zone.
Please like and follow me.
BPCL - Refill Fuel tank before zoom Pls note: This is completely my perception.
NSE:BPCL
BPCL seems to be on continuous raise from 290 levels with correction and again forming Higher Highs.
356 will be one minor Hurdle - if the cross sustains this level -- we should see strong upside candles in a short period.
Based on the Below chart -
From a Monthly Futures perspective - BPCL's current series VWAP crossed the Previous MOnth's VWAP and also took support from the current series.
From a Daily closure perspective - trying to take off Monthly HIgh - Once this is done & closed above 356 -- next target will be 396.
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