BUYING OPPORTUNITY IN BPCLA very strong support in the stock and good fibo levels.
Good buying level around 455 and above.
If the stock show some fall then the support level will be a good buying zone
Very good targets can be achieved
BPCL trade ideas
bpcl cup&handle ready to roarcup&hndle is really interesting text book theory that need no introduction
i think it just need a good strength before moving in direction
fibnocci scale at 61% looks healthy pullback
also their is 3 dips
BPCL - Inverted Head and ShoulderCurrently creating one of the most reliable trend reversal pattern. Can enter at the right shoulder with very low risk
Add BPCL to WatchlistIt's good to add BPCL to watchlist Since it is in range for longtime. When Breakouts give a massive Return
[POSITIONAL] BPCL LONG BET The double bottom formation constructed from two consecutive rounding bottoms can also infer that investors are following the security to capitalize on its last push lower toward a support level. A double bottom will typically indicate a bullish reversal, which allows investors to obtain profits from a bullish rally.
risk: Reward is 1:2
Rest as per charts.
BPCL-DECIDING PHASEThe major trend for BPCL is uptrend however the stock went into retracement beginning second week of June. The volumes have been low for the retracement period and now the stock is trading at the immediate resistance level. Breakout of this immediate resistance level with good volume should take the stock price to previous swing high level for retesting.
Swing Trade: BPCLIt's in an ascending triangle pattern. One can enter here in small qty and build up once it breaks out!
BAT HARMONIC PATTERN q1 Result on 5th Aug. Keep in mind. Buy above b to ride upto D. Keep Sl below b.
BPCL seems turning bullishBullish view on BPCL , It has taken resistance from previous levels thins time it might cross the levels
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.
BUY OPPORTUNITY IN BPCLBuy opportunity in BPCL as the stock has taken support near the demand zone and has started moving in the upward direction
BPCL- Buy BPCL is looking good at the current levels as it's trading at demand zone.
It has to cross hurdle(red zone) for a good upmove.
WEEKLY DURATION MAJOR TREND LINE ANALYSIS !BPCL is clearly seen taking support from its major trend since past 1 year. It is very difficult to break this trend line. Hence it is good opportunity to go long with small SL.
Tips : This is weekly chart , Use weekly chart for trend analysis. Use daily chart to find proper bullish candlestick reversal pattern on this trend line and use 1 hour time frame for smooth entry.
Put stop loss little below the trend line and aim for at least 7%+ target or as per your holding power.
This is major trend line analysis done for mainly educational purpose , feel free to share your views/feedback.
PBCL is likely to breakoutcurrent market price 445.50. My target 480(within 20 days)
BPCL is just above its 1 year strong trendline. May have a good rally in upcoming days. Keep on your RADAR.
