BPCL- Intraday & Swing Analysis(Market at crucial level!! )

Day TF:
Overview: After the big up trend from November 2023, price has reached new all time high couple of times and under consolidation from two months. Again the price has bounced from support but this time with W Chart pattern & more importantly Fibonacci at 0.382 Level. Inside candle price break in weekly time frame
If stock found some consolidation during W Pattern. We can expect new all time high in couple of weeks.

15 Min TF:
• Over all, Stock us in upward range by creating Higher Highs and Higher lows
• After rejecting the price from 200 EMA, price has shifted gears and given a healthy breakout and reached new all time high.
• Later part, due to profit booking, it was under retracement. During observation, we can find the gradual decrease in volume indicating bullish hold.
• Further, price has rejected at previous resistance level by converting to support and also it was rejected by FVG & 50 EMA.


Entry:
Buy (Risk Entry): Above 632
Safe Entry: Above 636
Safe exit for intraday:639
Swing/positional traders can hold long for bigger profits ahead.

Get confirmation from any of the leading indicators before entering trade

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Quote of the Day: “The trend is your friend until the end when it bends.” - Ed Seykota

BPCL

Order cancelled:

No trade found. Wait for the price to cross the given level