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Bpcllong

Bharat Petroleum Corporation Ltd - Positional TradeDate : 10-May-2024 Rating : Buy - Positional Trade LTP : Rs. 618.65 Targets: (1) Rs. 687 --> (2) Rs. 770 SL : Rs. 580 on daily close basis Technical View: • NSE:BPCL is in its primary uptrend and was recently going through it's secondary downtrend. • After touching the high of 687.95 on 16-Feb-2024, it has retraced 19% to 556.40 level. • On 29-Apr-2024, NSE:BPCL has broke out from its secondary down trend with high volume and re-tested the down trend line twice, on 30-Apr and 9-May. • NSE:BPCL has also closed above 20 DMA, 50 DMA and 21 DEMA on 10-May-2024. • RSI is trading at 53.91 and MACD is trading at 4.01. • Looking good to start a new swing from here. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
NSE:BPCLLong
by vicky252
1
BPCL-A Review for 8th Jan'23 ideaInverse 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 355-54 zone , keeping SL of 320 look for the target of 415-430 zone.
NSE:BPCLLong
by TradingSutra
2
Bullish Flag Pattern in BPCLIntroduction: Bharat Petroleum Corp. Ltd. is a holding company, which engages in the business of refining of crude oil and marketing of petroleum products. It operates through the Downstream Petroleum and Exploration and Production (E&P) segment. The Downstream Petroleum segment includes the refining and marketing of petroleum products. The E&P segment focuses on hydrocarbons. The company was founded on November 3, 1952 and is headquartered in Mumbai, India. Analysis A Bullish Flag and Pole pattern is visible on the 4 Hour chart of NSE:BPCL The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price. MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue. One can create a fresh position in the scrip near Rs. 395-400 levels with the stoploss of Rs. 380 on Daily closing basis for the following targets 408.15, 415.25, 421.05, 429.15, 437.65, 442.50 and 448.60 Risk Disclaimer: The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions. The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided. Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose. I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
NSE:BPCLLong
by raigvivek
BPCL - Refill Fuel tank before zoom Pls note: This is completely my perception. NSE:BPCL BPCL seems to be on continuous raise from 290 levels with correction and again forming Higher Highs. 356 will be one minor Hurdle - if the cross sustains this level -- we should see strong upside candles in a short period. Based on the Below chart - From a Monthly Futures perspective - BPCL's current series VWAP crossed the Previous MOnth's VWAP and also took support from the current series. From a Daily closure perspective - trying to take off Monthly HIgh - Once this is done & closed above 356 -- next target will be 396. Add to watchlist --
NSE:BPCLLong
by rvc8280
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 Mambotrade