Market insights
BPCL: Bouncing from Key Support ZoneBPCL is bouncing strongly from key support zones (trendline support and 55 EMA). With OPEC positioning on increasing oil supply Crude may have peaked short term which is good for OMCs
BPCL at good position for swing trade.BPCL is respecting the trendline which is there since OCTOBER 2020. And also has retraced up to 50%. After a formation of bullish candle stick, buy signal will get activated for good target with good R:R.
For any query comment below.
BPCL NEAR SUPPORT TREND LINE- CHANCE TO GO LONGBPCL has been making consistently Higher Highs and Higher Lows and the Bottom Support Trend line is providing good support.
Now after making a Higher High on 9 June the price has been falling and it is near the support trend line at around 440.Now we have to see whether the Support holds and the trend changes. There is also a Bullish Divergence.
Keep a sharp lookout.
BPCL: The FLAG bearer of privatisation?BPCL: FLAG formation on daily chart, trend is holding to trendline too, a further drop can be seen till 445 which will complete the flag formation, then we can see the awakening of bulls, the target is ATH and this is also supported by the main channel.
BPCL_DONT MISS THIS OPPORTUNITYIf BPCL takes the support of the trendline, one can go long and enjoy the upside rally.
(for educational purpose only)
How to think like a trader and gain 8% in BPCLFollow me on trading view : in.tradingview.com
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👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
Swing trade∘ Best Setup on Daily time frame Buy at Dip
∘ Trend line support
∘ Target - all time high
BPCL - Watch for a bounceOne of the last left PSU's which might get disinvested in FY22 after Concor was pushed forward.
Multiple supports at CMP.. 1) LT Trendline support 2) Fibo Support 3) 20WEMA Support
Often stocks take support at spaces where there are multiple supports..
SO watch for a potential bounce here.
There is also a high dividend whose date still has to be disclosed.
SL can be low risk for short term traders around 440 and for position traders slightly below the 200EMA which is 430.
BPCL seems weakNSE:BPCL seems to be coming towards it's 430 support. It's going down respecting the trend line. If it breaks trend line and tries to go up then entry can be taken.
BPCL - buy Buy from 447 to 446
easy target - 458
tg 2 - 463
Disclaimer : This is my personal analysis for study purpose not intended for trading
Raising Chanel Bullish moment expected. Wait for reversal.
Information available on chart
"🔰
➼I do only Swing trade
➼I Trade only when RR is in my favour
➼Please correct if I am wrong
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<>>>>>"
📊 BPCL coming towards harmonic PRZ NSE:BPCL
if one could find reversal around these level then go long. keep as as per risk appetite.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
BPCL | UPTREND | LONGCould find clearly the Fib retracement show that above 450 it will be a good bullish mode up to 470 easy target.
Disclaimer: It is only my analysis and thought. Not a trade idea.
Enter BPCL on bounce backFib levels and Trend line can confirm strength and accuracy of bounce back. Keep a close watch for Long entry.
BPCL @ 450 is a good Buy for targets 465/470There is a Triangle Breakout and subsequent retracement to the Triangle on the Weekly charts which is a very good buying opportunity. Forget about Crude Oil just Buy BPCL for targets 465/470 within 10 days
BPCL 440-444 is a good support for bpcl and upside expected from these levels.
So focus on this lavel. It's gives a good return in short term.
Also available at good price valuation.
BPCL ANALYSISBPCL RETRACEMENT AT 0.5/0.618, BUY NEAR 445/435 WITH STOP LOSS BELOW 430 FOR TARGET 490, IF YOU MISS THEN SECOND ENTRY AFTER TRENDLINE BREAK AT 460
