BPCL trade ideas
Swing opportunity in BPCL. Double bottomBPCL is trading in a range and respecting the trend line. Now again, after a nice double bottom it has taken support at the trendline and ready 5o move high.. This is a good place to enter the trade. SL should be below 450.
Kindly note, this is only an analysis and not a recommendation.
Simple Trade Setup | BPCL | 17-08-2021NSE:BPCL
Observations:
1) On Daily Time frame it looks trading in the range 445-465.
2) On Daily Time frame it looks like it is forming tripple bottom or may form tripple top pattern.
3) On Daily Time Frame it took support from 21DMA and closed above 50DMA
Please refer Chart below: daily time frame.
4) On 1hour time frame stock closed in the critical zone which is acting as a resistance since long time.
Please refer chart below: 1 hour time frame.
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Trade Setup for Date 17-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
BPCL WAITING FOR A BLAST ON THE UPSIDE.BPCL has undergone a long phase of consolidation and looks like we can enter in long trade in bpcl after breakout of the 460-465
xone of resistance..
can expect it to go upto 490 -510 levels after successful breakout.
BPCL BUYNSE:BPCL At Support Levels and If Trend break shorting will initiate , Great Risk Reward Ratio
90% chance of high price I recommend to buy BPCL When the 455.25 area is breached, it will move quickly to 460.95
BPCL for swingMy view on BPCL for swing, They may give 50rs dividend after this AGM.(don't buy for dividend)
DOUBLE BOTTOM PATTERN FORMATION @ BPCLDouble bottom pattern creation in BPCL consider long position.
Symmetric and Ascending Triangle pattern in BPCLFound this triangle pattern in the weekly frame; sharing this in thought that it would help.
Target can be a little below the all-time higher resistance.
BPCLThe first Wave decline looks like a Leading Diagonal. And it seems we are in Wave B of which a and b done and it may bounce in Wave C. The bounce can be a great opportunity to enter short.
Fuel giant returns!!!!BPCL has been experiencing a falling wedge since a long time it gave a breakout some time back but failed to sustain causing a false breakout
it has formed the same falling wedge near support levels
it has started to feel some buyers coming in visible in shorter time frame
long term view:
BPCL is gonna be privatized by the year end seeming to be a good news
if yall can hold it till a year
dividend yield too is better than fd
Holding for long term can give great returns too!!!
breakout of trendline .Breakout of trendline .If it breaks 456 level we can go long for the target of 462.
BPCL Daily Bullish SHARK
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
BPCL 4HRSTRONG ZONE confluence of Daily & 4HR
Bullish Shark
Waiting for Break of Trend line with RSI ABOVE 30
BUY
BPCL Bullish flagBPCL has created a bullish flag in the one-day time frame. It has also given the break-out on the upper trend (resistance) line. Take entry after confirmation when the candle crosses above 50 EMA. keep stop loss. below the big bullish candle.
start accumulating bpcl this coming week bpcl might change its trend as per to the past history. stay alert . reger chart.
