BPCL : approaching towards Symmetric Triangle BreakoutMomentum is good
Volume is good
above 200 dma
forming symmetric triangle
Buy above Previous Day high with sl 395
Target 482, 520
Market insights
BPCL - Long Term - Symmetrical Triangle Breakout#BPCL breaking out of a symmetrical triangle. 680 the price target in a period of about 12 months with this month's low of 380 as the stop loss.
Time Scale : Monthly
BPCL - Triangle with Resistance.This stock is making a trend continuation pattern in weekly timeframe. A triangle pattern is always a good sign for a investor/trader.
Weekly chart for the reference:-
Some of its peers are also showing some good signs as well.
For Example Hpcl is trying to break a longer term trendline and is trying to break a previous swing as well.
If peers are also trying to break the trend then there must be something going on. HPCL Weekly attached:-
Lets come to Daily now on BPCL where it has been testing resistance again and again.Levels of 440 will play important role as it is a resistance and will create a confluence zone as trendline is also there.
Do not enter in stock until and unless it holds at those levels for a while because if new positions are not built before breaking out then it might lead to false breakout.
Avoid the stock if it keeps on going one way without stopping.
Keep and eye folks. Cheers and Happy Trading.
Disclaimer:- I am not SEBI registered.Trade with your own risk and trade with caution.
Buzzing BPCLBPCL formed a channel pattern. Also bullish engulfing candlestick pattern formed. we can expect to break the channel pattern. one of the reasons for bullishness is it broked triangle pattern ( This article is in the related ideas section once go through it for better clarity ) which is formed from past 2 years.
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Thanks for reading.
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Disclaimer:- It's just for educational purposes.
Buy BPCL to take long entryBuy BPCL above 412 Target price 425-430 with the SL of 402. This is for your educational purpose only.
BPCL Bullish for swing or short term Trade.NSE:BPCL
BPCL on daily chart looks bullish for swing or short term trade.
On daily chart of BPCL after price rejection from 436 on 9th of February 2021 it did not received proper follow through for selling and went sideways for few days.
On 17th February 2021 though it made Gap Down opening which at that time seems like good opportunity for seller but if you observe the daily candle of that day its seems sellers were weak and they didn’t managed to keep the prices lower and hence day closes near the high which indicates that there is very less supply in this stock at least for now.
Result of which we are seeing today is stock prices are moving higher and day’s closes likely to be near its high which is going to be good opportunity for swing or short term trader. But one can prefer to wait for a breakout to the resistance level of 436.
SL for this trade is going to be at 375 while targets being of 480 and 520.
Correct way of using VWAP indicator.We all know that VWAP is a powerful indicator for the intraday traders, lets check how to use VWAP indicator correctly. You should buy stock at high of first candle when it closed above the VWAP price & for selling you should sell it at low of first candle when it closed below the VWAP price. set the target and stop loss according to your experience and wait for the profit. But beaware most of the time stop loss hits first, now it depends on you that how you manage this strategy.
BPCL FORMING SYMMETRIC TRIANGLE, TRADE AFTER BREAKOUTBPCL FORMING SYMMETRIC TRIANGLE, TRADE AFTER BREAKOUT ON EITHER SIDES AND REFER THE ARROWS FOR TAKE PROFIT LEVELS
pattern breakout possible in BPCLAsymmetric or Triangle .
We have shared chart for both the possible patterns.
Please use indicators to confirm either of them .
First try to go with triangle pattern .
Once triangle is confirmed, look for resistance at upper end of the channel and wait for a breakout after booking partial profit from the triangle pattern/ NSE:BPCL
Symmetrical Triangle Breakout In BPClA symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
for Education Purpose only
[Positional] BPCL Short IdeaConcall was muted.
Now I will sell future apart from Call Spread. Only if it triggers.
