BPCL is currently trading sideways and consolidating as it is inside triangle. We can see some space is left to fill between resistance line and support line which are trendlines of longer time frame and may be it can take some more time and will be around this price. So, it will be wise to go long above the resistance trendline although BPCL is trading above monthly tenkansen price which is at 400.50. As since last month it is taking support at 400 multiple times, it can be bought at that price otherwise any weekly closing above resistance trendline will be a good indication for long. A daily close not to be trusted as it is a monthly chart. Once the price start trading above trendline a trailing stoploss can be used as an attractive 5th wave ride can be possible.
Support will be at 400.50, 390 and 376.
Support will be at 400.50, 390 and 376.