Bearish-Piercing-BPCL-04Oct19
Short Position
Risk:Reward – 1:1
Recent price rise trend witnessed.
The bear body covers the high of
the previous day.
Today’s body covers at least 50%
of the previous day’s body.
The lower tail is small in size.
Volume is high during pattern formation.
However kindly note:
- BPCL is in an uptrend
- SL may get triggered if the uptrend continues and/ or if Nifty starts rising again
- MACD still indicates bullish trend
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Stock Ticker – NSE: BPCL – Bharat Petroleum Corporation Ltd. – ENERGY
Bearish Trade plan:
Entry Level 512 Target 479 Stoploss 545
Analyst Rating – :4/5
View Posted on 2019-10-05