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Posts
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By iamcryptic · Posted
In esssene. BNB is bullish Right?? -
By iamcryptic · Posted
Usually yes. But this month. I'm not really sure. But I'll give a detailed verdict in one week time.. -
By tradinglounge · Posted
BPCL – BPCL (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree Orange) Mode: Motive Structure: Impulse Position: Minor Wave 3 Details: Minor Wav 3 Grey progressing higher within Intermediate Wave (5) Orange against 324. Alternatively, Minor Wave 5 Grey is complete and the stock has turned lower. Long traders please exercise caution. Invalidation point: 324 BPCL Daily Chart Technical Analysis and potential Elliott Wave Counts BPCL daily chart is indicating five waves potentially complete between 144 and 380 levels at the Intermediate level. A break below 324 will confirm a major top is in place and the stock is in for a deeper correction lower. The stock had bottomed around 144 mark in October 2022 and since then Intermediate Waves (1) though (5) Orange look complete through 380 high, which was registered on September 30, 2024. Please note, Minor Wave 3 Grey within Intermediate Wave (5) was extended. Intermediate Wave (4) Orange completed around 269 on June 04, 2024 along with majority stocks. If the above holds well, high probability remains for Intermediate Wave (5) to have completed around 380 mark. Bears are looking poised to break below 324 near term. BPCL – BPCL (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree Orange) Mode: Motive Structure: Impulse Position: Minor Wave 3 Details: Minor Wav 3 Grey progressing higher within Intermediate Wave (5) Orange against 324. Alternatively, Minor Wave 3 terminated around 360, Wave 4 Grey around 324 and Minor Wave 5 Grey is complete around 280 and the stock has turned lower. Long traders please exercise caution. Invalidation point: 324 BPCL 4H Chart Technical Analysis and potential Elliott Wave Counts BPCL 4H chart highlights the sub waves since Intermediate Wave (3) Orange. Please note that Wave (4) Orange was a combination W-X-Y, while Wave (5) is either complete or just one leg away from terminating. Prepare for a potential deeper correction ahead. Conclusion: BPCL has either terminated Intermediate Wave (5) Orange around 380 or is close to completing soon. Please watch for a break below 324 for a bearish reversal confirmation. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
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