BPCL is trying to break the resistance at 481, which has not been sustained since last year. If BPCL manages to stay above 481, then we can see momentum to the upside.
Go long above 481 and place a stop loss below 440. This is a monthly timeframe analysis, so we can provide some time for the price to adjust in case of a fall. Add more quantity when the price comes to test the trendline on the chart.
The targets are given by the XABCD bearish butterfly pattern. This is a very good risk-reward trade setup.
Happy trading :)
This is just for educational purposes.
Go long above 481 and place a stop loss below 440. This is a monthly timeframe analysis, so we can provide some time for the price to adjust in case of a fall. Add more quantity when the price comes to test the trendline on the chart.
The targets are given by the XABCD bearish butterfly pattern. This is a very good risk-reward trade setup.
Happy trading :)
This is just for educational purposes.
