BPCL trade ideas
BPCL - Trend and Support zonesBPCL - Trend and Support zones analysis
1. Very Week in weekly candles, Almost breaks the current support of the primary trend.
2. It should bounce back above 310 for the next uptrend before the monthly candle closing.
3. If not it will fall down to the 2020 crash number.
4. If not bouns back then the next supports are 300, 275, and 255 respectively.
Note:
1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
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BPCL - LONGTERM - ELLIOT WAVE ANALYSISIt has formed classic elliot abcde triangle. Ready for upside move.
To clarify the stoploss points:
You can see 2 stoplosses as well as targets.
Place your stoploss at (stoploss 1 : 297/-) if you are taking an entry now.
After the price breaks the upper trendline and comes for a retest, then stoploss can be moved to (stoploss 2 : 331/-)
These cases happens only for triangles. So invest wisely.
-Definitely not a SEBI registered. So, this is only for educational purpose.