This topic contains 2 replies, has 2 voices, and was last updated by  gorantla.vinod 6 years, 7 months ago.

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  • #10411
     gorantla.vinod 
    Participant
    Rank: Level 4

    Higher tops, Higher bottoms, Lower tops and lower bottoms identified for the stock BPCL.

    As per the Dow theory, trade plan should be as per the trend but not against it.

    On breakout the previous higher top, there was good volume.

    Trade Plan: BPCL – Dow theory Bullish – Long position can be considered

    Entry@880, Stop Loss@812, Target@1000

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    #10557
     bhavani 
    Participant
    Rank: Level 7

    Hi sir,

    As per the Dow theory Entry should be placed above the previous resistance (in a bullish trend) supported with a good volume..

    kindly review your entry point because @ 880 there is good volume but it is not a breakout since it has not crossed the previous resistance.

    Find the attached chart for clarification.

     

     

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    #10611
     gorantla.vinod 
    Participant
    Rank: Level 4

    Hi Madam,

    Thank you for analysing and providing me inputs.

    Checked that previous resistance was @876.4 on 04 june 2015.

     

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