BPCL - Bullish Swing Reversal with VolumesNSE: BPCL is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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BPCL trade ideas
BPCL Long ViewThe price of BPCL has been in a nice narrowing consolidation over several months now. I am expecting a breakout or a retest of the 415-420 levels with the upcoming earnings catalyst in the first week of Feb which would make this a good time to enter a long position for a medium to long duration as auto sales in the last quarter have been impressive. Entry could be anywhere below 390 with a stop loss around 370-360 as per your risk management.
BPCL : Bulls are getting control
Please don't be in hurry. Buy in consonance with other indicators like William R%. May use combination of 34 & 5 EMA . Please necessarily watch the candle on 4th October mentioned in my last discussion on the stock.
I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision.
BPCL - Reversal Mode
BPCL showing reversal towards upwards trend as marked by sky yellow path line with base. Levels have been marked on the chart. However, don't be in hurry, it will be better to watch low of 29th September and then enter.
I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. It is only for educational purposes.
BPCL Buy above exact level of 352.95
Buy above 352. 95, Target 363
As per my earlier discussion on the stock, buying level was given above 360, but that is modified now at above level. Don't be in haste, let the levels come. Then execute with proper indicators.
The levels which I prescribe are on closing basis. Yesterday it closed above this, Let it remain above this level of 352.95 or retrace above this level only then buy.
I am not a SEBI Registered Analyst, consult your financial Advisor before making a decision. I will not be responsible for any of your profits or losses.
BPCL - Go long
BPCL Daily Chart showing that it is very bullish above 360.65. Also watch the future levels marked in the chart for your convenience. I am publishing everything only in the words that everyone of us can understand. No difficult technical aspects. Although all of them have been taken into consideration.
Special mention here is that do not be in haste. All the levels are on closing basis. If you dont get levels in the same date, wait for the next day.
I am not a SEBI Registered Analyst, please consult your financial advisor before making any decision.
Let you grow. May! I follow you.
Thank you
BPCL long target 400+Buy BPCL above between 558 to 365
SL 338
T1 - 387 (1:1)
T2 - 409 (1:2)
Index OIL n Gas Index will try to make higher high so Index will be bullish.
BPCL forming bullish head and shoulder pattern on weekly time frame.
BPCL formed W pattern breakout with volume
Took support from bottom trend line
BPCL - Election Cycle ShortWith us entering an election cycle and crude prices rising..the govt won't increase prices of Petrol/Diesel which would spark inflation.
IF prices are held constant..OMC's will start making a loss. (Esp if the govt doesn't reduce taxes on fuels)
Short below 350 with a SL above 355.
There will be a trendline breakdown but also the stock will fail to move above the 200EMA on the daily timeframe.