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Bharat Petroleum Corporation LimitedBharat Petroleum Corporation LimitedBharat Petroleum Corporation Limited

Bharat Petroleum Corporation Limited

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BPCL trade ideas

BPCL : Booked profit of 15.15% on invested capitalBooked a profit of 15.15% on the invested capital on 15/11/2023. The move happened sooner than I expected it to. So decided to book profit since there is a higher probability for a sell-off to happen anytime soon, from a technical viewpoint. Fundamentally also, I don't see much positive sentiments, that may push price further from the current valuation in the near term. So decided to take the chips off the table. The previous posts on this stock are attached along with. Do check them out.
NSE:BPCLShort
by Sniper-Traders
BPCL : Going longI've made a purchase at around 1.25% of my capital. There's a potential upward move of approximately 22% to reach the top of the ascending channel. However, if the price experiences a sharp decline, I plan to add to my position at the next potential buying level, which is at the bottom of the ascending channel. According to a Moody's report, high crude oil prices are expected to weaken the profitability of India's three state-owned oil marketing companies—IOC, BPCL, and HPCL. These companies will have limited flexibility to offset rising raw material costs by increasing retail selling prices of petrol and diesel in the current fiscal year due to the upcoming elections in May 2024. The ongoing war situation in Israel may further contribute to an increase in the price of crude oil, which could result in further corrections in their share prices. However, I anticipate that after the elections conclude in May to June 2024, oil prices will likely rebound, leading to a recovery in the stock prices of these three companies. Therefore, any future declines in their share prices represent potential buying opportunities in my view.
NSE:BPCLLong
by Sniper-Traders
BPCL making Bullish W pattern ready for big upside move On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BPCL
by JaiPrakashShuklaHarmonicTrader