Technical Observations (Based on the Chart)
Resistance Zone:
BPCL is currently facing resistance in the 260-265 range, marked by multiple past rejections.
There are multiple sell signals appearing, indicating potential resistance.
Support Levels:
Indicator Analysis (RSI & Moving Average):
RSI at 62.05, showing strength but cooling off from overbought levels.
RSI Orange moving average (likely 50-period) is sloping upwards, indicating bullish momentum.
Price Action:
Trade Plan for Monday (March 11, 2025)
Bullish Trade (Breakout Strategy)
Bearish Trade (Rejection & Breakdown Strategy)
Final Thoughts:
BPCL is at resistance, so a breakout above 262 is needed for bullish confirmation.
A breakdown below 256.50 can trigger a correction toward 250-242.
Monitor market sentiment & volume for confirmation.
Resistance Zone:
BPCL is currently facing resistance in the 260-265 range, marked by multiple past rejections.
There are multiple sell signals appearing, indicating potential resistance.
Support Levels:
- Immediate support at 256.50.
- Stronger support at 248.80.
- Major demand zone around 241.50.
Indicator Analysis (RSI & Moving Average):
RSI at 62.05, showing strength but cooling off from overbought levels.
RSI Orange moving average (likely 50-period) is sloping upwards, indicating bullish momentum.
Price Action:
- BPCL has made a strong rally from 235 to 260 and is now consolidating.
- If it breaks above 262, further upside is possible.
- If it breaks below 256.50, a retracement toward 248-241 is likely.
Trade Plan for Monday (March 11, 2025)
Bullish Trade (Breakout Strategy)
- Entry: Buy above 262 (previous high).
- Target 1: 265-268.
- Target 2: 275 (next major resistance).
- Stop Loss: 258 (below minor support).
Bearish Trade (Rejection & Breakdown Strategy)
- Entry: Sell below 256.50 (confirmation of weakness).
- Target 1: 250.
- Target 2: 242 (major demand zone).
- Stop Loss: 260.50 (above resistance).
Final Thoughts:
BPCL is at resistance, so a breakout above 262 is needed for bullish confirmation.
A breakdown below 256.50 can trigger a correction toward 250-242.
Monitor market sentiment & volume for confirmation.
交易進行
Pin bar formation 125min time frame. Short sell BPCL at 260 and 1st target 252/250免責聲明
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。