NSE:BPCL Intraday Correction expected in this. May fill the gap which has been ctreated today morning. We may go short on this with SLTP around 512 and Target 480.
Fibo levels plotted.
SR plotted.
Apparent Flag and Pole with breakout confirmed.. Flag length covered.
Now will the Pole length be covered as target ??
consolidating 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
Downward 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.
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
Bharat Petroleum Corporation Limited is engaged in offering motor spirit (MS), high speed diesel (HSD) and liquefied petroleum gas (LPG). The Company is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: Downstream petroleum, and Exploration and Production of Hydrocarbons (E&P). The Downstream petroleum segment includes refining and marketing of petroleum products. It is engaged in the production of liquid and gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum or bituminous minerals. The Company also manufactures other petroleum products, including petroleum bitumen and other residues of petroleum oils or of oils obtained from bituminous minerals. It has refineries at Mumbai and Kochi, LPG bottling plants and lube blending plants. Its marketing infrastructure includes network of installations, depots, retail outlets, aviation service stations and LPG distributors.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
BPCL
