BPCL trade ideas
BPCL : Buy abv 360consolidating in the 330 350 range since a month and oscillating based on moves in the crude oil market
It has made a good move based on last night in the crude market
It is currently hovering at its 200 DMA
A break above 360 levels has potential to take it to 372
Keep stops at 340
BPCLDownward wedge.
Stock has started upwards movement from near bottom of wedge.
Support is the yellow line (for probable SL) and targets are the 2 zones marked.
Fibo levels also plotted for clarity of levels.
Symmetrical triangle in BPCL!!! & updating earlier Idea
earlier idea
BEAR BELOW--340
BULLS ABOVE-400
now BPCL is ranging and formed symmetrical triangle
can trade or add more on breakout of long side till say above 340
if breakdown then go for short
Bearish gartely daily watch 340 to 350 if any retracement look tBearish gartely daily watch 340 to 350 if any retracement look to buy
BPCLBuy above 355 for a breakout to 370 with stops at 342. The OMCs are making a upmove attemp in unison. See HPCL also
Long BPCL!!!!BPCL trading in channel
Buy near bottom channel RSI also bottomed
BEAR BELOW--340
BULLS ABOVE-400
CAN INITIATE BUY ABOVE 357 WITH SL OF 340 FOR TARGET OF 375-400
59. pASSIVE ANALYSIS INTRADAY.. E. 386. sl 383..t1=390. AND 394Passive analysis
only for educational purpose
Bpcl ...... short tradelevels mentioned on chart.
this is just my view....... trade according to your risk management.
BPCL appears to be a good short candidate.Bharat Petroleum Corporation Ltd (CMP 367.35) is showing negative divergence along with a double top pattern on daily chart. Downside targets can be 355/340/335/320 on positional basis. Stop loss can be kept at 380 on closing basis or at 385 on intraday basis. BPCL may turn very weak below 350. Risk is all yours.
