BPCL trade ideas
BPCL - Breakout failedBPCL faced strong rejection while breaking out on 7th December.
But the strange thing here is that for such a strong first 1hr candle today, volume was significantly low. I suspect operators might have played part here, trapping all bullish retailers.
Might possibe that this will fall now to grab SLs of trapped bulls or it may again touch its resistance zone and will continue downward.
Long - BPCL - Parallel channel within the Parallel channelHi Folks,
BPCL daily chart has two patterns inside a big pattern. Inside big parallel channel, there is a smaller parallel channel near breakout point. And also, there is a Cup and handle pattern not the clean one, but it is there.
Looks good for long
Enter only if it breaks 405 or 415 level
Strict stop loss of 371
I hope you will benefit from this knowledge
-MetaVish
BPCL new Target Rs. 500++Looks like BPCL is moving ahead in wave 4, and will touch pivot point of wave 5 very soon. If invested now can give 30% return. Check the chart and comment for suggestions.
We are also waiting for good disinvestment news that can even cross Rs. 500 target mark
What are we talking about?
BPCL target price Rs. 500
Wave 4 of Wave 5 started
RSI is gaining strength