Bpcl has been beautifully consolidating on weekly and is looking good to make a explosive move in coming weeks.
Buy on the breakout for a possible new ATH.
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Breakout in BPCL on daily time frame with good volume
It is at the 50 MA and below 200 MA, but close to 200 MA, if it crosses 50 & 200 MA then it would jump further high.
Possible supports & resistances marked on the chart
Retracement are very healthy for further up move so, I personally think it would give more opportunity in intraday and we can also play for positional trade. but one thing we need to take care that is for positional trade first it should break its swing low and then will get more confirmed to play for it. but as i said it will going to take more likely opportunity...
BPCL chart showing high volume selling today, RSI tanked below 60.
If stock breaks 375 with volumes, more pain to be witnessed. If a bounce is witnessed after touching 373-375, might zoom above more.
Levels mentioned in chart.
Do your research before taking trading decision.
Key Levels for STOCK are : t.me - JOIN TELEGRAM CHANNEL
Upper Breakout~411.40
First Target~414
Interim Resistance~419.60
Final Resistance~424
**Lower Levels**
Lower Breakout~407.10
First Target~404.20
Interim Support~399.60
Final Support~394.60393.95
Please trade with caution and consult your financial adviser before trading. You can also...
NSE:BPCL short at 402.20 with SL at 405.05 and TP 396.50
Note:
Consult your registered adviser before taking any decision.
Always risk 1% of account size per trade, adjust the position size accordingly.
Bharat Petroleum Corporation Limited is engaged in offering motor spirit (MS), high speed diesel (HSD) and liquefied petroleum gas (LPG). The Company is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: Downstream petroleum, and Exploration and Production of Hydrocarbons (E&P). The Downstream petroleum segment includes refining and marketing of petroleum products. It is engaged in the production of liquid and gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum or bituminous minerals. The Company also manufactures other petroleum products, including petroleum bitumen and other residues of petroleum oils or of oils obtained from bituminous minerals. It has refineries at Mumbai and Kochi, LPG bottling plants and lube blending plants. Its marketing infrastructure includes network of installations, depots, retail outlets, aviation service stations and LPG distributors.
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BPCL
![BPCL: [Positional] BPCL Short Idea](https://s3.tradingview.com/e/ENSRtr3n_mid.png "[Positional] BPCL Short Idea")
![BPCL: BPCL Short Setup [Intraday]](https://s3.tradingview.com/y/YiJPcxUc_mid.png "BPCL Short Setup [Intraday]")
