BPCL should hit the bottom trendline. This meet should happen when the price touches 200 dma.
After that it moves about 15-20% upwards to 500.
Let's see how this goes.
Do your own DD.
BPCL has given a good breakout.
Buy- CMP
Target- 464.40, 474.90, 484.35, 492.95, 502.90.
SL- 429 (trail SL to CTC after achieving the second target).
(TARGET CAN COME BEFORE DIWALI OR TILL DIWALI)
Good Breakout today after the big gap down and also recovered quickly, can expect a good upside momentum in the upcoming days
*Broke the resistance of 444 and once it becomes the support level. shareholders can see some green in their portfolio.
not much to worry for Medium and long term investors
*swing traders, short term traders need to trail Stop loss for some days.
NIFTY ENERGY SECTOR is forming and inverted head and shoulder pattern. The sector has broken out on weekly TF. The stocks in this space can move great over the next few weeks.
Your SL in this sector would breaking of right shoulder low.
Look for stocks like Tata Power, Adani Power, GAIL, BPCL expect a good run up in these stocks.
as per chart it looks too good for grab
add in small qty, energy sector looks too much promising in last few days.
SL 115 for short term and 110 for medium term investors looks good.
my first pic is bpclf you are looking for a PSU vacancy? you can find the requisite information about the latest jobs and current openings at BPCL website.
Buy BPCL at 430+
Target Price :- 432, 433
SL :- 429
This is not a trading call
only for education purpose...
if am wrong then please let me know....
Thanks in Advance
NSE:BPCL
Trade Setup for Date 28-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up...
FORMING "W" pattern :
when entry position with target of 2-2.5 % Swing trade /btst
Btst 2-2.5 % is good as the share will not get into your for 2 days you dont have to get charged for DP charges best part the charges will be like intraday
Could wait for more days for better return but currently doing swing BTST only per week only 2 -3 trades with...
BPCL is in a good Downtrend and there is no quality Demand on high time frame to hold or give a reversal
1 hour good Supply zones.
Both can be traded or trade only the Top Supply zone which is coinsiding with Daily Supply also is coinsiding 240 min Supply zone
Since planning for Intraday , Target should be 1:2 RR
Happy Trading.
Disclaimer:
Above Stock...
![BPCL: Simple Trade Setup | BPCL | 28-09-2021 [INTRADAY]](https://s3.tradingview.com/f/faKw2NdW_mid.png "Simple Trade Setup | BPCL | 28-09-2021 [INTRADAY]")
