BPCL Long for Positional 500/580. Good consolidation and breakout of triangle.
SL minimum target is big
Prefer Feb Future along with a PE as hedge.
For cash Positional 2-3 months holding for 27-36%ROI
BPCL trade ideas
BPCL - ASCENDING+SYMMETRICAL TRIANGLE -Short Term swing/IntradayThis analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Trade logic with SL and Target is explained in image itself.
Daily TF chart of BPCL is attached below. check the triangle formation on bigger TF as well.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Bpcl { Short 15 }As per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
Consolidation going oneThis is in consolidation. Based on data and past history, basic supply and demand zone has been marked. Use alerts to remind on particular level of buy or sell zone. SL is must
BPCLI'm not an expert I'm just sharing my views on BPCL for next trading day
I'm not responsible for any profit or loss this is not a recommendation.
BPCL - Good Short opportunity - 1hr Analysis- Short termBPCL is at a very crucial level. A good short trade is expected. Breakdown of 2 months trend - Good fall .
Breakout trade can give 1% to 1.5% targets.
Short below- 390
Target 1 - 380, Tgt 2 - 370.
St Loss - 395
Buy above - 395
Target 1 - 400, Tgt 2-405+
St loss-390
BPCL - Begining of wave 3?I prefer following a 3-hour time frame to understand the larger trend of the stock.
BPCL has completed its wave 2 and its preparing for wave 3 already. Price conformation over 410.
Long term trendline breakout at 410 and its currently respecting its fibbo levels.
Price targets are around 521-540 next move :) The trendline needs to be respected for this view to be valid, any close below the current trendline will negate the view.
BPCL CAN BUY FOR POSITIONALLooks positive at current levels for targets of 415-422-436 With closing SL@ 387.40 CLOSING BASES.
buy bpcl above 407.40 tgt 415 sl 1% stock valuetoday i think is day for bpcl just like yesterday was hpcl . one can buy intraday ( i am a intraday trader) looks good with risk to reward.
BPCL | Who will cover the GAP?Important Levels can be observed from the chart.. following Elliot path 4 to 5.. then a mini correction.. one can expect to complete a W formation and then fly from break honoring the Elliot wave.
Triangle Breakout + INHS pattern I can see triangle pattern BO & INVERTED Head and shoulder pattern in D frame
if volume surge we can see good movements
CMP 403
SL 370
Target 435,465 +
