Positional Trading Idea on BPCL with Fibonacci Level

31 Mar

BPCL

Stock will trade in range during election period. Support near 545 level. Good entry level near 545 if stock down to this level wit Trailing Stop Loss near 500.

Drawing Fibonacci Extension taken into account of recent High and Low then the 1.618 Fibonacci Extension level comes near 736 level. Long Position may be initiated near 545 with Trailing SL near 500 for the target near 736 level.