Market insights
BPCL WeeklyYour views on this ?? Anyone
Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai.
Only for educational purposes.
bpcl 1w time frame target @ 407.55, 414.90, 418.40 bpcl 1w time frame target @ 407.55, 414.90, 418.40
ascending triangle breakout
risk reward 1.5
its just a view trade @ your own risk
sl@364
BPLC short position On the chart we can see a rising wedge. Our strategy is entering the short once the price breaks below the downsloping support line.
Approx. target is shown on the chart.
Ascending Triangle in BPCLThere is a ascending triangle forming in 1D time frame in BPCL, Once the breakout the SL could be placed at 353
BPCL is a BUY CMP377 for Targets upto 450This stock is travelling within the Wedge, now its time to reach higher end of the Wedge, once it breaks out of wedge then open blue sky
Bullish Flag in BPCL.A breakout and close above 375 could lead to continuation of trend. The target is considered to be equal to the length of the pole. So it should be able to reach 400.
Ascending Triangle pattern As per pattern the chart of BPCL is ready to fly high🚀🚀, once it will cross 375 then the 1st target will be 450 or there is psychological resistance also and 2nd target will be 470-480 and there is a major resistance at 480. However SL will be 320-330 around, As it is my personal view/analysis not a buy recommendation.
HULL VIEW chart pattern looking weak now so planning for sorting for a bigger Target with stop loss 10 Rupees
Are we looking for a Bull move upward?What is chart action suggesting us to expect on time - seems like a impulse wave waiting to unfold with time.
There is a what and if associated with every condition on chart action!
Times to unfold!
#BPCL
BPCL--Good Buy @340-335 Range??Observations::
--------->> The stock is trending upwards in daily time frame.
--------->> Previous resistance is broken @360 strongly. If this acts as support buy ness is observed.
-------->> we have a demand zone @340-335 levels. where previously strong buy ness is observed.
--------->> if this zones acts as a support, a strong rise towards upside is possible.
If price breaks resistance @375 range we have next resistance placed @385,400 range possible.
if price comes back to this place we will go for buy @375,385,400 . Keep track this levels.
H&S formation happening in BPCL with rising RS curveIt seems a head & shoulder formation is happening in BPCL counter. Currently right shoulder is under formation & volumes have squeezed out.
Confirmation only when it gives a breakout above neck-line with huge volumes with positive RS.
BPCL - Weekly AnalysisIn the Weekly Chart of BPCL ,
we can see that, after the breakout failure, we saw a strong back in W Pattern.
now it has retested hand formed a Hammer candle on Breakout Trendline.
BPCL weekly consolidation break outBPCL showing a break out after major consolidation in weekly chart. The price action can be up to 410.
BPCL HEAD AND SHOULDER BPCL making a bullish pattern called head and shoulder and after its breakout we see targets of 60-70 points which is length of head targets are marked as fib levels for cautions
not only BPCL but across oil sector looking bullish for few weeks
BPCL strong volumes near resistance. If crossed can hit Rs. 399Strong volumes were seen in last two trading sessions near resistance with a doji formed in the last trading session on Friday. If resistance is broken then price can hit Rs. 399/-
BPCL ANALYSIS1.Consolidating in a same range(290-355)for over 300 days
2.MT and ST Outlook: Long Buildup
3.ADX=28.87
4.Above 20,50,100,200 Ema's
5.RSI=70
Support=290 Resistance=350-355 Target=385,400
Resistance BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
