Technical analysis of BPCL
1) rejection From the 50% Fibonacci retracement level
2) Formation of symmetrical Triangle
3) Consistent supply
4) No RSi divergence Spotted but, it's below 50
I am gonna be neutral on the analysis And I'll trade with the trend or play the reversal of the trend.
BPCL Short to Medium Term View is given SL is on 336.40 Entry is at 324.55 Target is at 299.90
This View is for Short to Medium term only and is purely based on technical analysis and is for educational purposes.
BPCL Stock on Daily TF we can see that took support at 325 level and gave upper closing on Friday with high volume. Stock has made Volatility Divergence on daily TF means 3rd Feb stock has closed below lover band of BB and on last couple of days stock gave closing in lower band of BB. its give signal to stock is ready for going upside move.
Entry : CMP
Sl :...
BPCL - Elliott Wave View.
Pattern suggests a triangle formation, which means a bullish scenario is likely from this level. A move below 300 would be an invalidation to this idea.
BPCL view triangle formation for today 14th Feb
Buy above 338
Sel below
Follow strict risk rward and stop loss if u follow the level
Charts for Educational purposes only
Thanks,
V Trade Point
BPCL CMP 326.9
Charts speaks for itself
A probable green zone where I am seeing prices to comeplete its corrective wave
after completion of it...
Expecting strong upside movement as Wave 3
Just a view!!
Vedang:)
Chart is for study purpose only!!!
day chart of BPCL
Resistance zone is 355
Support zone is 320
Strong Support zone is 290,
If price comes below 342 then I will short otherwise if orice goes aboive 355 and sustain that level then it can be bullish for short term.
BPCL is currently in a perfect place. We can expect an ideal directional move from this point on either side.
Wait for his stock to confirm either side move with good volumes and follow-up candles.
Trade safe. Manage risk. Be profitable.
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falling channel BO done, HH-HL already forming on Daily TF, Rectangle consolidation box is to be broken amd to be closed above 357 with good vol to create the buzz.
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Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation
BPCL has given a BO from falling channel, a double bottom has been formed. The first target is 398 and the final target is 485. This will be either very slow or swift as hell, no in between.
