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...
BPCL is at a very crucial level. A good short trade is expected. Breakdown of 2 months trend - Good fall .
Breakout trade can give 1% to 1.5% targets.
Short below- 390
Target 1 - 380, Tgt 2 - 370.
St Loss - 395
Buy above - 395
Target 1 - 400, Tgt 2-405+
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.