bpcl has came out from triangle patter and got his retracement bpcl got out from triangle patter and got his retracement to go first target of 467
NSE:BPCL
BPCL trade ideas
BPCL - Elliott's Wave TradeSelf Explanatory chart
Enter at Elliott's Wave 2 Bottom & Exit at Wave 5 Top
Entry at 385-390 with SL 370 (Weekly close)
Target 1 - 542
Target 2 - 640
Updates will be given then and there.
Since its a weekly timeframe, this trade will take good amount of time to get completed
BPCL: Long rounding formationBPCL at a good point in terms of risk-reward. One can enter here with 400 as WCB stop loss. The target is near 470-480. If it clears that then can head to 520-530. Also, it has retraced till 50% and has formed a Bullish candle on weekly time-frame there.
BPCL - Bullish SwingBPCL has tested it's 200-EMA since last 8 days and now taking off.
Also, the last day volume is more than the average volume.
The graph also forming an ascending triangle pattern with higher lows while the upper resistance is maintained near 460 Levels.
BPCL- SWING TRADEIt was continuously taking support at the 200 D EMA, which is also a Fibonacci level. Increasing volumes in the last two trading sessions. Looks perfect for a swing trade with a reward to risk ratio of 2:1.
Please let me know your views in the comment section.
BPCL at WEEKLY Trendline Supportit has formed a bullish weekly candle at support trendline.
it retested breakout resistance trendline.
it formed bullish engulfing pattern on weekly.
NSE:BPCL Using Trend Lines to identify SHORT & LONG pointsTrend lines / parallel channel on daily time frame helps to identify where safe long/short positions can be created. Stop Loss is low but reward is high.
BPCL Bearish H&SBearish pattern in BPCL is forming. It's on the crucial support right now. It's taking support on 200 ema as well, so a breakout below 400 levels with volume can push this stock in bearish trend.
Note:
This is strictly for educational purposes, I'm still learning the concepts of the stock market. Do your own analysis before taking any positions.
BPCL Made the Short Term Low?The stock has taken support at 200 MA and we may see higher levels until 200 MA is intact on the downside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
