BPCL trade ideas
Cup and handle pattern on BPCLCup and handle pattern on BPCL weekly TF. Breakout can give good up move.
Game of Price ActionEDUCATIONAL
NSE:BPCL is following smooth and pure action. It has been taking supports over T1,facing resistance against T2 and crafting a flat top triangular pattern while getting squeezed. NSE:BPCL had also made a falling wedge pattern inside the triangle and too respected it.
I had entered in it at 419.2 with stop loss below 400 and patiently waiting for my target of 540.
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Study 12: Ascending Triangle - BPCLThis is just for study purpose. Lets wait for the Ascending Triangle to break out.
Go long 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.
BPCL FORMING ROUNDING BOTTOM ! BULLISH PATTERNSBPCL ON ITS DAILY CHART IS FORMING ROUNDING BOTTOM PATTERN.
BPCL - Short BPCL has rallied with not much volume and this looks more like a short covering. Right now it is near Harmonic PRZ and also at its historical resistance. It is expected to correct from the marked zone. Risk reward is also looking in favor.
CMP - 453.7
Entry - 456.5
Target 1 - 443.15
Target 2 - 434.9
Target 3 - 428.25
Stop Loss - 464.65
This is only for educational purpose and please consult your financial advisor before making any investment.
BPCL : Positional BUY trade with very good RRMy wave analysis suggest a nice BUY for BPCL - do not miss it..
We are in correction now, if you can start accumulation then it is good.. go for smaller quantities first.
Happy Trading.
BPCL | Expecting falling wedge breakout in smaller time frameBPCL | Expecting falling wedge breakout in smaller time frame
CMP : 419 (Dip 405)
SL : 390
Target : 470
Good risk reward setup
BPCL forming cup with handle pattern BPCL forming cup with handle pattern.
Let's see what will happen.
simple trend line breakoutfirst small traget will be 485
and next long term target will be all time high 533.
BPCL LongStock has formed inverse head & shoulder pattern. Breakout has happened with good volumes. Chart is self explanatory
