BPCL trade ideas
BPCL | LONG TRADEHey guys,
BPCL has a very good setup right now. It seems to be forming a bearish bat with the second impulse wave in the formation.
This trade has an RR Ratio of 6.82. So that pretty much is a very good number to give in.
Sell in the red region and buy back lower at the 0.382 retracement.
BPCLResistance 450
Any rejection from 450 level gives immediate short target of 430.
If sustain above 450 can take long positions
upmove supported by HUGE volumewe can see further upmove, next resistance 510. see chart on daily candle, you will see volume more clearly.
BPCL... The Euphoric Counter....The Daily study in the Chart says it all..
Trade the levels given as per ur risk apetiite...
Just painted the technical outlook BPCL..
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Are we heading for a breakout with resistance targetsNSE:BPCL NSE:NIFTY
RSI power divergence turned on with pennant formation watching for the breakout!
Long BPCLDetails given in the chart
RR 1:4
Stoploss can be below support 15rs stop
Target 60rs
Lets see how it goes
Pattern of the Day- Descending TriangleDescending Triangle formation made on BPCL with strong support zone. It can show upside momentum on the bounce back from support zone. Can take a sure trade on breakout.
Buy if sustains above 420 Target will be 450+ Buy if BPCL sustains above 420 Target will be 450+
with stoploss of 395..
We are not SEBI registered..
BPCL - ANOTHER long on Radarsustaining above 370 levels, stock may move towards 43 and 480 levels on the upside
View negates below 350 levels.
BPCL looks weak with RSI divergenceNSE:BPCL
BPCL seems to weak as there is a divergence between the price and RSI. the stock broke the high that it made 4-5 days back but the RSI shows a negative slope which indicates weakness.
