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BHARAT PETROLEUM CORPORATION LBHARAT PETROLEUM CORPORATION LBHARAT PETROLEUM CORPORATION L

BHARAT PETROLEUM CORPORATION L

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BPCL trade ideas

BPCL - Expecting a good up move🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade Comments
NSE:BPCLLong
by PrakWorld_Traders
BPCL - Strategy to go longa. Prices are currently at the pivot point (Orange) b. Prices are currently heading towards the 1st support zone (Green). c. Current Trend confirms that 10DMA should correct itself by tomorrow or a day later. d. The pattern of creating a higher low is confirmed. Should the current position be assumed as a higher low then it can't fall too below 1st support and should instead head towards a confirming higher high. e. BB in daily frame shows that the price is trailing towards the lower band. f. Their earnings are going to be reported on the 5th of august. Need to observe if the rally starts before or after. g. Support and Resistance Band 1st Resistance - 451.30 2nd Resistance - 457.20 3rd Resistance 460.60 Pivot Point- 448.40 1st Support - 442.20 2nd Support - 438.90 3rd Support - 432.90 h. Trade Positions Entry: 442.54 Target: 461.52 (Rs 19/-) Stoploss: 440.47 (Rs 2.06) h. Wait for a confirmed course correction and enter only post that.
NSE:BPCLLong
by daivick