Market insights
Triangle Pattern Breakout in 1 DTF//BPCL>The good ACCENDING Triangle Pattern formed which ended up with strong green candle!
>The pattern took 3 supports at the bottom and 3 resistances at the top!
>12 AUG close is strong both 1 DTF & 1 WTF.
>In WTF it closed as a Hammer Candle , It is heading to break 20 DMA!
>Once it breaks 20 DMA then 50 DMA is the immediate target in WTF, the MTF is also looking bullish by the way.
>Stop-Loss is fine under the green bullish candle in 1 DTF and wait for the 20 DMA break and take the positions accordingly.
Hope the stock blast!
BPCL - Trend and Support zonesBPCL - Trend and Support zones analysis
1. Very Week in weekly candles, Almost breaks the current support of the primary trend.
2. It should bounce back above 310 for the next uptrend before the monthly candle closing.
3. If not it will fall down to the 2020 crash number.
4. If not bouns back then the next supports are 300, 275, and 255 respectively.
Note:
1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
3. Follow me for more patterns and like, and share so that we feel it is helpful to many and share more patterns...






















