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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 sell given at 622 hold sell trade Target 555On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BPCL
by JaiPrakashShuklaHarmonicTrader
BPCL | Weekly Chart | 6 years BO | Chart analysis on Weekly time frame: Analysis: 1. Resistance zone is tested 5 times before final BO making it very critical resistance zone. 2. Before BO, consolidation happened supported by volume build up which eventually indicates that the stock accumulation is happening. Breakout: Consolidation phase BO happened on 2-Feb-2024 followed by BO supporting candle. Trade setup: Entry price: If price closes above 577.85. Stop loss: Below 522.3 Target 1: 667.7 Target 2: 813.1 Target 3: 855.9 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
NSE:BPCLLong
by SanjogY
Bharat Petrol Corp: Uptrend Continues After Multi-Year BreakoutAnalysis: The chart you provided shows BPCL's stock price currently trading at ₹558.38, which is above the multi-year resistance level of ₹541.60 marked by the blue line. This recent breakout, accompanied by strong volume, suggests a potential continuation of the uptrend. Key Points: Breakout confirmed : BPCL successfully broke above the multi-year resistance level, indicating a potential trend shift from resistance to support. Uptrend momentum : The price continues to climb after the breakout, suggesting sustained buying pressure. Volume confirmation: Increased volume during the breakout reinforces the bullish sentiment. Trading Strategies: Aggressive: Enter long immediately if the price sustains above the current level (₹558.38) with continued buying volume. Set a stop-loss order below the breakout level (₹541.60) to manage risk. Potential short-term target prices could be ₹580 and ₹600 based on chart patterns and Fibonacci extensions. Conservative: Wait for a potential pullback towards the breakout level (₹541.60) Enter long if the price finds support at the pullback level and shows signs of bullish reversal (e.g., hammer candlestick pattern). Utilize a stop-loss order below the pullback low for risk management. Additional Considerations: While the technical analysis is promising, remember that the stock market is inherently volatile. Conduct your own fundamental research to assess BPCL's financial health and future prospects before making investment decisions. Manage your risk effectively using stop-loss orders and appropriate position sizing. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
NSE:BPCLLong
by TRADING-NASA