BPCL Gann Octave Analysis

10 Jan 2021

BPCL Gann Octave Analysis

• Gann Octave captures majority of tops, bottoms and consolidation levels so far
  
  
• CMP 400 (a square number) is also 50% retracement level from all time high, hence an important trade level
  
  
• Supports: 363 / 326 / 301
  
  
• Resistances: 437 / 474 / 499
  
  
• Gann dates in JAN: 01 / 11 / 14 / 19
  
  

13 Jan 2021

Nota

BPCL Trade Setup

Positional: Close above 404 Target 424

Intraday:
Buy above 404 | Targets 408, 412 and 416 SL 400
Sell below 398 | Targets 394, 390 and 385 SL 402

Not a recommendation. Trade at your own risk.

13 Jan 2021

Dagangan ditutup: sasaran tercapai

Both positional and intra day targets achieved.

13 Jan 2021

Nota

Important levels to watch:

430 (Trend line Resistance)

437 (Gann Octave Level)

15 Jan 2021

Nota

At multi year trend line resistance.

18 Jan 2021

Nota

Back to 400 zone.

21 Jan 2021

Nota

Bounced again from 400 on 18th Jan | Heading towards trend line resistance again.

30 Jan 2021

Nota

Narrowing triangle.

9 Feb 2021

Nota

Broken out above triangle resistance | Currently trading near breakout level | Sustaining above 437 would confirm further up move