BPCL trade ideas
BPCL | Trading in a ZoneAfter the price rallied upwards, the price consolidated into a zone where it gapped down to find the region acting as a resistance.
The longer-term support line being tested, the price is likely to go long and take roof on the zone's support at 341.
Long Position
Target 1: 334
Target 2: 341
SL: 318 (Careful at being stopped out!)
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simple chart works tiptop 5 year return -27.63%
3 month return -25.84%
something is wrong with this stock.
this company 100% owned by public.
BPCLStill BPCL looks bearish on multiple time frame.However, i am sharing my view on 15 minutes time frame
Swing trade shortThird time price rejection at 370 level.
Price broke the support line this time.
Entry:353
Target: 340
LOOKING FOR SHORT PRICE IS BELOW 200 EMA, HAS BROKEN TRENDLINE AND AGAIN IT HAS COME TO RETEST IT WITH THE NEGATIVE WEEKLY LAST CANDLE.
TARGET MIGHT B MARKED LOWER LINES .
BPCL- buyform a cup and handle chart pattern on 30 min timeframe.
wait for the breakout.
long position
Short sell in Futures One can look for Price Rejections after an brief rally , and wait for short sell set up for next move down , it can also crack from its current level , but all in all it has down ward momentum in Progression ,
Wait for the set up
wait for the price confirmation we don't need to make prediction, wherever price will go we are behind the price and we will follow price action.
BPCL - Bearish Bias - Can Short at current levels.BPCL - Bearish Bias - Can Short at current levels.
BPCL Bullish Flag pattern near break outBPCL ready to bullish flag pattern break out any position create after breakout with volume
BPCL - More pain ahead. Short at current Market Prices.BPCL - More pain ahead. Short at current Market Prices.
BPCL - SHORT COVERING IN PROGRESS - LONG BPCL is one of the listed Oil Marketing Companies' in India. The stock has made a high of around Rs.550 in Nov'19 and has been in pressure since then because of global uncertainties, Macroeconomic issues and fluctuating crude prices in recent times. After correcting 38.2% from the top the stock has shown some retracement and today's close (01/28/2020) has been above 13/34 days EMA's with raise in Open Interest, Price, and Delivery of stock in Cash Market from past few days indicating "Short Covering" is in progress and stock price can move higher going forward and possibly test Rs.550.00. Flag Pattern and trendline breakout in RSI confirming the uptrend to continue.
Disclaimer: Basis the above analysis one can initiate long depending on their risk appetite.
Note: I am not a SEBI registered Research Analyst. Above analysis is being shared for Education Purpose.
Short BPCLBPCL short for target around 420s...or the next levels shown in chart...Switch to weekly or monthly timeframes for long term view....
