BPCL-Time to shift the gears for bulls? Week & Daily Analysis

21 May 2024

BPCL

Overview:
After the big up trend from November 2023, price has broke previous ATH. Due to strong movement price has reached 20% above previous ATH. But Healthy breakout needs proper consolidation & also due to profit bookings price was under small retracement.
Again the price has bounced from previous ATH but this time with W Chart pattern(Day TF) & more importantly Fibonacci at 0.382 Level. Inside candle price break in weekly time frame & also in Day TF indicates strong movement ahead

Buy: Above 654
1st Target(Swing traders): 688
2nd Target(Investment): 750

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24 May 2024

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