BPCL Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a range bound zone , will favor bulls once BPCL closes above 613.50. (Updated On 14th August 2014, Thursday).

BPCL

• BPCL is moving in a range bound zone at current levels, this indicates as long as stock trades in between its range trend is not clear, but once stock comes out from its range then sharp move is expecting in BPCL.
• Daily chart also indicates that stock is moving up from its 50 days moving average, so as long as stock trades above it will be favored by bulls. Even stock major trend indicator MACD and stochastic oscillator is moving in a positive zone as shown in graph no2. , so as long as they are moving in positive zone bulls will be favored in BPCL.
• Suggested Reading - FUTURES RETAIL (FRL) has formed descending triangle formation, sharp move expecting when stock comes out.
• As per graph no3 stock is also facing strong golden ratio resistance at current levels its 61.8% fibonacci retracement, so once stock closes above its resistance 613.50 then bulls will get active for next 1-2 trading days.
• Intraday close watch once stock starts trading above 613.50, if holds above 613.50 then intraday bulls action is expecting.
• Graph 3 also indicates that if stock moves up from current levels then will find next strong resistance around 650 its previous top. Close Watch.
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