BPCL
BPCL appears to be a good short candidate.Bharat Petroleum Corporation Ltd (CMP 367.35) is showing negative divergence along with a double top pattern on daily chart. Downside targets can be 355/340/335/320 on positional basis. Stop loss can be kept at 380 on closing basis or at 385 on intraday basis. BPCL may turn very weak below 350. Risk is all yours.
BPCL- Possible correction in downtrendThere is correction and price action will go up According to elliott wave theory. Consider to check it out
#BPCL breakingLooks like bad scene BPCL. Im out of it. Making lower lows...Will break 370 and then go down to 350/340 levels.
Will be a good sell at around 380 and wait till it breaks.
LONG BPCL CALLSI see further upside in BPCL, with immediate resistance at 725.The best way to play this would be to be long slightly OTM call options. Given the sort of move we have seen over the last 2 trading sessions, and the overall trend prior to that, it does appear that the probability of it breaking through 725 are pretty good.
BPCL-Hr-CD Leg-Sell 628/Stop 631 tgt 590BPCL - Bullish shark CD leg probability.
Sell cmp 628/Stop 631 tgt 590
Long term bullish on BPCLBPCL has risen very sharply. One can wait for a correction for sharp moves up.
