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BPCL

BPCL: Inverse Head and Shoulder reversal Inverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head. The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above. The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline. TRADING STRATEGY: Buy on cmp add on dips , keeping SL of 320 look for the measured target of 415 and beyond that targets are 443 /500 as per ElliottWave perspective.
NSE:BPCLLong
by TradingSutra
BPCL giving a break out of cup and handle pattern.BPCL on the daily time frame has given a break out of a cup and handle pattern. The stock has taking a halt near the resistance zone and gave a break out after a selling off from the level. 3 points confirmation. 1. Break out of the cup and handle pattern. 2. Closed above both the moving averages. 3. High trading volume on the break out. The stock has finally given a break out and can remain in bullish move tomorrow. Let stock price to retest the support and cross 350 price level and enter only after it sustains above the level. Targets :- 353.5, 359 Stop loss :- 337 Trade can be traded if there is a price action near the support level. Intraday and swing trades can be initiated in the stock. Investors can also create positions in the stock with a long term view.
NSE:BPCL
by TheMamboMomentum
BPCL : SWING ANALYSIS BPCL : As per the analysis drawn, it seems that the short is triggered and that the bullish strength should now start to wane. This should lead to a move towards the sell side, which will eventually come into play. The short-term trend seems to be in favour of the bears and a sell around 340-342 with a stop loss near 347 looks like a good idea for a potential sell side target around 330-327. The market has been volatile lately and this trade setup should be watched closely. This analysis is only for the educational purpose and should not be considered as a recommendation. There are many different factors to consider when making investment decisions, and this post does not take into account all of those factors. This post is not intended to be investment advice, and you should always consult with a financial advisor before making any investment decisions.
NSE:BPCLShort
by intelligence7
3
BPCL LTD Technical studies For Swing TradersBPCL looks bearish as it falls below 399 support and goes back 5 days. BPCL made a big belt candle and started falling. According to past performance, if the trend is weak, the price will make a bunch of bearish candles. The swing dealer can wait for the T1 356 to break. But if the market breaks the level of 399 , there may be a bullish movement in the market. If this level is broken then good bearish speed can come. Targets : 356 - 331 and more Invalidation : breakout of T1 Thank you! Money_Dictators Disclaimer: This is NOT investment advice. Invest your capital at your own risk.
NSE:BPCL
by Money_Dictators
4
BPCL long opportunityNSE:BPCL Stock -> BPCL TimeFrame -> Weekly Hello all! BPCL has been moving in a channel since Sep 2017. Its came back to its lower trendline, took support, bounced off and now has broken trendline 1 with good volumes. This makes for a good opportunity to go long! Risk-averse traders should wait for a strong closing above the nearest swing high (yellow box). The stock will start trading above its 50-week EMA after it crosses the swing high and thus the probability of success would be much higher *NOT A CALL* #BPCL #technicalanalysis #stocktrading #swingtrading #nifty #markets #trading #investing
NSE:BPCLLong
by Traders_Town
1
BPCL --POSITIONAL BPCL --POSITIONAL --WEEKLY CHART 1.BPCL seen on chart breakdown from 480 level to 300 SUB level last few months , 2. Rounded Bottom chart pattern seen on chart , where bottom form around 290-300 level . 3. Weekly trendline seen breakout above 320 level 4. RSI seen pullback from oversold level on weekly RSI above WMA at present bullish. 5. Weekly RSI positive divergence also seen on chart 6. one can initiate BUY 315-318 and above for positional target 325-350-380 ( 1-2 ) month stop loss below strong support level at 275 ** THIS IDEA IS FOR EDUCATIONAL PURPOSE ..TRADE AT OWN RISK .. ** suggetions and comment are welcome .!! HAPPY TRADING . !!
NSE:BPCLLong
by champtrade111