Will BPCL follow the Symmetrical Triangle Pattern?BPCL, one of the highest dividend payout stocks, forms the symmetrical triangle. The stock taking support at the monthly trendline with higher volumes compared to the last month. Oil price increase may be one of the reason behind this. Let's see whether it respects the trendline or not. What's your thought on this?
Market insights
BPCL - Going to Rise UpBPCL has showed a good profit result, along with it the Day time chart is in the accumulation process for over One and Half year's now, and it formed a Ascending Triangle Pattern. Once it breaks the pattern it's going to shoot up.
Enter after the 16th of September 2021, as it is the ex-date (Rs.58/- Dividend), for conservative entry. For aggressive entry enter the Day candle closes above the 500.
1st Target will be at 540, because of the strong resistance, which is also the all time high.
2nd Target will be 700.
BPCL - A Breakout or A FakeoutBPCL has been trading in Descending channel for a few months. Today, the stock has closed above the resisting line of the channel, with a good amount of volume. Looks like it will reach 400 levels in the near term.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Happy Trading
Bharat Petroleum Corporation Ltd.Bharat Petroleum Corporation Ltd.
BPCL is a public sector undertaking with the Government of India holding 52.98%. on 11 September 2017, the government of India conferred BPCL with Maharatna status.
TECHNICAL ANALYSIS.
Time Frame - 1D
1. Stock made an inverse Head and Shoulder Pattern.
2. Stock break the neckline of 400.
3. Stock making new lower lows .
FUNDAMENTAL ANALYSIS.
SECTOR: Refineries
1. MARKET CAP - ₹ 75,988.92 Cr.
2. P/E - 4.09
3. P/B - 1.52
4. ROE - 43.82 %
5. ROCE - 30.63%
6. EPS - ₹ 85.74
7. DEBT - ₹ 26,558.36 Cr.
8. CASH - ₹ 7,053.49 Cr.
DISCLAIMER - All analysis are for educational purpose. it is not a trading or investment advise.
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Will BPCL change the trend by breaking the falling wedge?BPCL had broken the uptrend channel and started correcting the previous move.
It has made a falling wedge, which is on the level of 61.8%.
Price will reach 401 and may face minor resistance. But If the price gives a strong close above 401.2, we can see the following targets: 415-439-456-469 and more .
If the price doesn't make a higher low and breaks 357, it will make a down move of about 340.
Traders can wait for a pullback, and they can enter after the breakout of 401.2.






















