BPCL- Ascending Triangle Pattern Breakout?
NIfty50 stock BPCL formed Ascending triangle pattern.
You can see Rising lower trend line having ascending Higher Lows and a Flat upper trend line acting as resistance line.
I have marked A and B point, to calculate the target.
Price at A point = 252
Price at B point = 478.65
Formula to calculate the target is
Target = (Price difference between A & B) + Price at point B
Price difference between A & B = 478.65 - 252 = 226.65
Target = 226.65 + 478.65 = 705.30
So we can have our positional target near 705.30
This is my personal view about BPCL. Take it as educational purpose. I am not sebi registered or any Stock market expert. I am not responsible for profit or loss.
You can see Rising lower trend line having ascending Higher Lows and a Flat upper trend line acting as resistance line.
I have marked A and B point, to calculate the target.
Price at A point = 252
Price at B point = 478.65
Formula to calculate the target is
Target = (Price difference between A & B) + Price at point B
Price difference between A & B = 478.65 - 252 = 226.65
Target = 226.65 + 478.65 = 705.30
So we can have our positional target near 705.30
This is my personal view about BPCL. Take it as educational purpose. I am not sebi registered or any Stock market expert. I am not responsible for profit or loss.
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