Sharp fall has been seen in BPCL since last 1 Month.
The trendline has been taken out indicating that the correction has been over.
According to our Half Bat BPCL will reverse from 400-445. And the Green Trendline is the major support for BPCL.
Buy- Between 440-445
SL - 430
Target - 465 480 500++
BPCL (NSE Cash)
Market cap is above 241.297b
Volumes are above 666.887k
Average volume is 2.28
Float is 77.522M
Resistance: 434.60 / 441.85
Daily charts (long term)
A bullish engulfing candle was made on 22nd April followed by a confirmation green candle on the 23rd.
There is a reversal seen in the DEMA as well. 5 DEMA has crossed 100...
The stock has taken support at 200 MA and we may see higher levels until 200 MA is intact on the downside.
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InvestPro India Team
BPCL is now within its strong supply zone!
It tried to break out a few days back but quickly retraced.
Now if it is able to cross the psychological level of 400+ with volumes then the target is 464.