Descending Triangle on BPCLDescending Triangle on BPCL.
Trade:
Short below = 701
Target = 694.50
Stop loss = 707.50
BPCL
BPCL at a support level and could rally upBPCL is at a pretty good support level and also forming a bullish candle. The correction has been slow and we can expect the prices rally to the upper end, around 628.
ABCD Triangle formation on BPCL - LONGTechnical Analysis:
RSI above 50.
MACD on bullish crossover and Histogram on above '0' line.
Stochastic on bullish but in overbought level, so may be take some time to make correction.
Price lying above the EMA 50 and EMA 5/20 bullish crossover.
Trade:
Buy above - 631
Target 1 - 637
Target 2 - 642
Stop Loss - 625
Reward Points - 11
Risk Points - 06
BPCL BREAKING SUPPORT LEVELS It is been observed on daily chart that the price action breaks breaking below the crucial support levels indicating further fall down. The price action signals that sellers are in dominance of the prices levels and now they may take to the next support levels around 603-600 levels.
Target: 603
Stoploss: 645
Triangle formation on 15mins Chart - BPCLDear Traders
Triangle formation of BPCL in 15mins chart and it may break either side.
Hurdle for long - EMA 50 lying above the price and it will act as a Resistance.
Other indicators like MACD, Stochastic and RSI looking bullish.
No trade until the price break the triangle.
BPCL - STRONG AND POSITIVE (Descending Triangle Breakout)It is been observed that the price action breaks out from a descending triangle on hourly chart, indicated further bullishness ahead. It is also important to note that the price action has broken and closed above the previous resistance levels of 684 which further confirms a further positive and strong move ahead irrespective of markets volatility.
Target: 705
Stoploss: 665
Risk Reward: 1:1
BPCL Breaking out Ascending Triangle (Strong Bearish Signal)The price action has finally breaks out from a long preceding Ascending Triangle on daily chart, that indicated weakness and a bearish reversal.
Target: 545
Stoploss: 600
BPCL : Simple bullish trend continuation setupIn BPCL we got good chance to go long in the marked zone 575-580's. I hope the recent bullrun will continue and may gap up 2mrw bcos of the GST bill. If it comes in zone I will be taking some long positions.
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