this chart is BPCL, i counted to BPCL Elliott wave i am sure to this time sell to BPCL and get profit,
Elliott wave 1,2,3,4 complete and wave 5 is running.
BPCL It's on the verge of a breakout
Create a Long position through Cash & Call Option.
BUY BPCL CASH @396-398 SL 388 Target 408/413
BUY BPCL 405 CALL @5.8 SL 4.5 Target 8/10
Better Book Profit @ 413 Because it formed a Fibonacci cluster there and it going to be very key Resistance
What we believe in:-
°Trade With Logic
°Take Time Before...
BPCL had broken the uptrend channel and started correcting the previous move.
It has made a falling wedge, which is on the level of 61.8%.
Price will reach 401 and may face minor resistance. But If the price gives a strong close above 401.2, we can see the following targets: 415-439-456-469 and more .
If the price doesn't make a higher low and breaks 357,...
Doji candlestick formed in weakly chart. If it close above 407rs in weakly candle, we can expect upmove. If it closed below 396 we can expect downside as per trend line..
We shared BPCL Sell Idea @ 412 and we saw almost 8% fall from our Selling Price.
BPCL was trading in a falling wedge and is now at the verge of breakout which is a bullish sign, looks good to buy above 384 for marked levels on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
BPCL already broken H&S pattern and come for retest with desending parallel channel....as this parallel channel pattern gets break...enter for 1:3 risk reward ratio....
NSE:BPCL
Observations:
1) On 1 day time frame, we can see that after giving closing above 50DMA on Thursday , it made bullish candle above 50DMA on Friday.
And now it is near the breakout range of 400 level.
Breakout 400 will lead it to easy 405 level. And breakout of 405 level will make it bullish.
Major breakout level is 410 level. One who want to be in...
BPCL is building up, can gain momentum and move to the upside. Note the series of Higher Lows inside the trading range, price action in hinting a bullish breakout. News flow of privatization in this budget season can be the undercurrent for PSUs
According to support and resistance, BPCL is facing resistance near 403-404 and according to candle stick pattern, it looks bullish. Intraday trader and positional trader can buy BPCL above 304 for target of 440 and more. Stop loss should be 385 on closing basis for positional trader.
Disclaimer: This is for demonstration and educational purpose only. This is not...
BPCL trend line + bullish double bottom breakout at 30 min TF
NOTE: not a buy recommendation only educational purpose, do your own analysis or consult your financial advisor before taking any decisions.
Bharat Petroleum Corp. Ltd. is a holding company, which engages in the business of refining of crude oil and marketing of petroleum products. It operates through the Downstream Petroleum and Exploration and Production (E&P) segment. The Downstream Petroleum segment includes the refining and marketing of petroleum products. The E&P segment focuses on hydrocarbons. The company was founded on November 3, 1952 and is headquartered in Mumbai, India.
NSE
![BPCL: this chart is BPCl [ the time to sell bpcl ]](https://s3.tradingview.com/w/wzsITsBw_mid.png "this chart is BPCl [ the time to sell bpcl ]")
![BPCL: Simple Trade Setup | BPCL | 17-01-2022 [INTRADAY]](https://s3.tradingview.com/u/uPvW4EMK_mid.png "Simple Trade Setup | BPCL | 17-01-2022 [INTRADAY]")
