Short BPCL with a target of 452 if it breaks below 462
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 looks good with stop loss 477
A clear downside move in the Awesome Oscillator, so we enter at below the last down fractal for a shorting opportunity.
Short below 500 until the gaps are filled at 472 Please note that the view is from a learner.
BPCL consolidating in a range since a month. If it breaches 500 on a closing basis, expect start of a downtrend.
Purely for study purpose. Two important support and resistant area.
BPCL: 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...
sl provided and must be folloowed strictly
Expecting a move down to fill the gaps. Retracement of last move up.
Play the setup. Exit on invalidation. Book profit on each fib level.
chart says buy above box for next box.. please do your own analysis, this is just record my trades :)
BPCL Long term chart with accumulation and stop loss - Technical Chart
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