BPCL trade ideas
BPCL 370 Going Down !While this stock has made 3 back-to-back head n shoulder patterns, it’s still hasn't started the descent.
There is a large descending triangle which is also formed I am not so convinced that BPCL will fall that much.
350 - 370 definitely on the charts.
This is not a trading or investing advise. Please consult a registered stock market expert for any trading / investing decision. I am a newbie trader :)
BPCL Intraday trade plan for 23 AugustBPCL
Reversed from a strong supply zone, hence probability of a down move is more.
Recent breakDOWN on 30mins and follow through after a last kiss increase the probability of a down move.
Trde plan for Monday (23 Aug 2021) can be --
Sell around 454/455
With SL at 461
Targets
T1 - 448
T2 - 442
BPCL CHARGING UP FOR BIG MOVEVCP pattern / Accending triangle. As soon the supply is taken out we can see big targets. follow if you like.
Short Sell BPCLBPCL is showing weakness since it couldn't cross it's crucial resistance level @465. Short sell with the stop loss of 459
BPCL intraday trade idea#BPCL entry and exit levels on the chart (refer black/blue lines). Place SL@0.6% of the entry price. Zones (in pink/orange) are the places where it's unsafe to enter. #INTRADAY
BPCL ON TRIANGLE BOBPCL: Forms Tringle ,It may test 482 and after that it will consider as BO next level for 550.
Volume and divergence clearly seen positive at recent bottom and also form Double bottom on weekly chart.
BPCL Swing TradeLooks like a good swing trade for a good 7% Upside. Low risk to reward but look a high probability trade.
PS: This is only for educational Purpose kindly do your own study before trading.
BPCL - Long strategyPrices have risen from a falling trendline and have been consolidating for over 3 weeks and made it's first attempt at breaching past the last two weeks resistance levels.
RSI Levels are currently at 57.90
Go long should it cross 60 at tomorrow's opening
GMMA has ended the day with a positive momentum sign.
KST has shown a positive crossover
Prices have closed above 50 DMA and can be considered bullish
BB is showing a squeeze at 10Min time frame
KST has shown a positive crossover
Entry @ 465.10
Target: 469.49 (Rs. 4.40)
Stoploss @ 463.44 (Rs 1.66)
[ INTRADAY ] BPCL LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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[ INTRADAY ] BPCL SHORT BETrisk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
BPCL For Long BPCL was made the Ascending chart Pattern and now in range whenever it break it will goes up.
BPCL on break or back on trackNSE:BPCL is approaching towards its previous resistance zone, either it will make a breakout or respect the resistance line and will stay in a range bound.
do like the analysis if it is worth!!!!
BPCL - SWING IdeaBPCL has an opportunity for swing entry with a potential of up to 495-500 level target. I am not interested in this setup because the RR is just about 1:1. Posting just for educational purposes. Rather I would trade after a breakout.
Possible Reversal on daily chart - Buy BPCL1. MACD showing strength
2. Energy sector looks bullish
3. Supported by increase in reliance
4. Possible reversal from Support trendline
5. Weekly trend is uptrend
BPCL channel for swing following a channel may see some upward supportive movement further ,can give a channel breakou with stop loss of 434
BPCL Clear up movement Possible if the given level is crossed bpcl Announced date of big dividend too so buyers will be there most probably. Do like ideas , do follow me for more ideas on other shares like Asian paints , L&T , etc.. .
BPCL - Bullish Hammer at SupportNote: This is for educational purpose only. Please do not trade in F&O based on this.
There seems to be a bullish hammer at support of ascending triangle. Moreover, RSI is above 50 which indicates mildly bullish.
Buy above high of the current candle.
SL: ₹ 419
