BPCL - Buy - ATH breakout - Technical Analysis

#Bharat Petroleum Corporation Limited (BPCL) - #Technical Analysis Report

Current Price: 356.80 (Daily)

Multi-Timeframe Technical Analysis:
BPCL is displaying strong bullish momentum across multiple timeframes with a compelling technical setup featuring **Hidden Divergence** and a clear breakout structure on the daily chart.

Daily Chart Analysis - Key Technical Patterns:

1. Hidden Divergence Confirmed
- Classic Trend continuation signal indicating the uptrend is likely to resume with strength

2. Breakout Structure
- Stock has broken out from a consolidation zone around ₹362
- Currently trading above key resistance turned support

3. Trade Entry:
Aggressive Buy Entry:
As #Priceaction has formed already for traders who want immediate entry Buy will be active above 367.65

Conservative Entry on Breakout:
Initiate trades on candle close above 380

Price Targets

Target 1: 387.15
Target 2: 396.25
Target 3: 406.30

These targets are based on Fibonacci extensions and resistance zones from the pattern structure.

Weekly & Monthly Chart Context
Weekly Chart Shows:
- Strong uptrend since 2024 lows
- Stock trading near multi-year highs around 367-370 zone
- Higher highs and higher lows pattern intact
- Moving averages well-aligned in bullish configuration

Monthly Chart Indicates:
- Long-term recovery from 2020-2023 correction phase
- Breaking out from multi-year resistance zone
- Potential for extended rally toward ₹376-400 zone

Momentum Indicators

- Hidden divergence on daily timeframe = Bullish continuation
- Price action showing strength above key moving averages
- Volume expansion on breakout candles (positive sign)
- RSI/Momentum indicators supporting the upward move

The combination of bullish patterns and momentum indicators suggests potential for continuation toward higher targets. Traders should maintain strict risk management and adjust positions based on price action at key levels.

DISCLAIMER
This analysis is for educational and informational purposes only and should NOT be considered as investment advice or a recommendation to buy, sell, or hold any securities - I am NOT a SEBI registered analyst or investment advisor - This is purely a technical analysis based on chart patterns, indicators, and price action - Past performance and technical patterns do not guarantee future results - Trading and investing in stocks involves substantial risk of loss and may not be suitable for all investors - Always conduct your own research, due diligence, and analysis before making any investment decisions - Consult with a qualified financial advisor before taking any investment positions - The author/analyst holds no responsibility for any profits or losses incurred based on this analysis - Risk management is crucial - never invest more than you can afford to lose - Stop losses are mandatory for capital protection - Markets can remain irrational longer than you can remain solvent

Trade/Invest at your own risk. DYOR (Do Your Own Research).

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