BPCL: Support & Resistance and Moving Average Trade Potential

BPCL

The stock has taken Support at previous reversal zone

Now seems to be respecting 50 day EMA

- 50 day EMA around 371

- 200 day EMA around 396

Breakout above 396
Target 440 odd levels

Stop Loss Close below 358

Risk :: Reward ratio looks favorable to go Long. This is a Positional view and not an intra day trade suggestion

Plan your trade accordingly...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be