BPCL Forms INVERTED HEAD AND SHOULDERS PATTERN

An inverted head and shoulders patter was identified on the 15 min chart of BPCL after the closing on Friday. The shoulders (Rs.354) )may act as a major resistance level for the same, and surpassing it may give us levels upto 360. On the contrary, the neckline (Rs. 349) may act as a major support level. If the price falls below this level we can witness a downward trend till Rs. 344.