Here’s what BPCL is doing on the Hourly … taking support.
Expect a bounce imo – 3 supports at one place. Confluence.
And some positive divergence thrown in for some chatpata-ness.
If it breaks that support, look for 560 next.
And updating the chart – what a bounce from 610 to 657 now ….. exactly presumed.
Trail your stops if you have gone long based on this chart. Cheers …..
This is NOT a trade reco. This is just a pattern I have seen repeating …. and posting it here.
Reliance Industries (RIL) has broken down a bear flag on the Daily.
A short on rise with a stop just above the flag line could be a probable trade.
Tata Global has broken out today – a huge breakout – from a 7 week consolidation and a Marubozu candle.
Estimated targets are previous double top area of 178 and higher maybe.
Over the longer term i.e. 2-5 years or so … expecting 500+ on this counter. A must have in all long term portfolios.
Idea has had a fantastic rise from 138 onwards but now a small dip could be in the offing.
One can go short anywhere till 176 spot as he feels ok and a stop at 176 spot on a closing basis for a probable probe to 162 spot.
Coal India has given a good RS and Flag breakout today with volumes and a probable Wolfe Wave too for Target 1 of 400, T2 of 420 and eventually the WW target of 440+.
This can be taken in cash delivery with a stop of 365 on closing basis.