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⭐️ Ultra Equity Advice #110 | Sell | Expected Profit 4-5% | Arijit Banerjee

  Sell    BHARAT PETROLEUM CORPORATION  

CP#467.75
IdeaSELL
Sell Range474 – 464
Target452 – 447
StopLoss*488
Duration10 – 12 Trading Days
Potential Returns^4 – 5%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
467.75SELL474 – 464452 – 44748810 – 12 Trading Days4 – 5%

# CP – closing price on Jan 27, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 460.
^ Potential returns are calculated based on the median of sell range.

 Verify Ultra Equity Advice #110

To verify our authenticity and credibility, do check the trading position update and recommendation timestamp. Be assured such records are permanent and irreversible.

COMPANY OVERVIEW

Bharat Petroleum Corporation Limited refines crude oil and sells petroleum products in India. It operates fuel station that sells petrol, diesel, LPG and CNG. Besides, the company also offers gases, naptha, disel, kerosene, furnace oil, bitumen, sulphur and industrial lubricants. The oil refiner’s revenue drops 15.77 per cent to Rs 64,289 crore on a quarterly basis.

Stock Data
NSE CodeBPCL
Sectoral IndexNifty 500
52W High549
52W Low308.35
Face Value10
Relative Performance_Bharat Petroleum vs Nifty 500

TECHNICAL OBSERVATIONS (WEEKLY)

  • Last three months earlier, the stock had made a false upside breakout, when price temporarily moves above the resistance level, but later retrace back to the same side as it started.
  • We are also witnessing the formation of ‘Lower Highs Lower Lows’ on a weekly scale, which is a negative sign as per ‘Dow Theory’.
BPCL Technical Analysis - Weekly Chart
BPCL Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Bharat Petroleum share price has extended its southward journey, which indicates weakness over the last few weeks.
  • Technical indicators are currently giving negative signals as the stock trades below the important moving averages.
  • Presently, the stock price has placed near the resistance and based on the past evidence, we are expecting the price to fall off from here.
BPCL Technical Analysis - Daily Chart
BPCL Technical Analysis - Daily Chart

CONCLUSION - BPCL SHARE PRICE FORECAST

Based on our positional trading share tips, BPCL share price target will be 452 – 447 in the next few days.

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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