BPCL | FVG + Fibonacci COnfluence | Long Setup toward 378

22 Eki

💬 Description:

Chart Type: 1D (Daily)
Stock: BPCL – Bharat Petroleum Corporation Ltd.

🧩 Setup Overview

BPCL has completed a clean retracement into a Fair Value Gap (FVG) aligning with the 0.5–0.618 Fibonacci retracement zone from the previous upswing (306 → 351).
The zone around ₹334–₹340 acted as strong demand support, hinting at a possible continuation leg to the upside.

📊 Trade Plan

Entry Zone: ₹338–₹340
Stop Loss: ₹330
Target 1: ₹351
Target 2: ₹378 (1.618 Fib Extension)
Risk–Reward Ratio: ~1:3

📈 Technical Confluence

✅ FVG + 0.618 Fib alignment
✅ Retest & bounce confirmation
✅ Volume showing accumulation
✅ Clear higher-low structure maintained

🚨 Invalidation

Setup invalid if price closes below ₹330, which would break FVG and shift structure to bearish.

🧠 Bias: Bullish continuation
Time Horizon: Swing (2–4 weeks)

29 Eki

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