Price and trend forecast of BPCL for Tomorrow, Weekly, Monthly
Bharat Petroleum Corporation Limited
Symbol: NSE:BPCL
ISIN: INE029A01011
282.40
As on 2024-11-21
BPCL's Today's Performance
Bharat Petroleum Corporation Limited started the day by opening at 287.45 today 2024-11-21. Its shares reached a high of 287.45 and dipped to a low of 279.35 in intraday. When the markets closed, BPCL’s stock price settled at ₹282.40 per share. Also check out its key support and resistance levels.
BPCL Buy/Sell Targets
Tomorrow, sell BPCL when its price reaches ₹ 282.40 with a stop-loss order at ₹ 287.54. You can set the target price as ₹ 277.26 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of BPCL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for BPCL
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 287 |
| Tomorrow Down Target 2 | 291 |
| Tomorrow Down Target 3 | 295 |
Important Levels for BPCL
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 279 |
| Tomorrow Up Target 2 | 275 |
| Tomorrow Up Target 3 | 271 |
Based on where the stock opens tomorrow, if BPCL opens on a positive note, our first target will be ₹287. If Target 1 is achieved, we will aim for Target 2 which is ₹291.
But if BPCL falls below the average value of ₹283.07, you can enter a sell side position with target number 1 - ₹279 and second target - ₹275 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of BPCL
Looking at BPCL, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, BPCL has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for BPCL is moderate bearish.
Tomorrow's Volume based share price Forecast for BPCL
BPCL's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -3%.
Reversal detection for BPCL
BPCL may trend may continue to be bearish since stock is making lower low and we can get target of ₹291 in morning tomorrow
| Target 1 tomorrow | 286 |
| Target 2 tomorrow | 288 |
| Target 3 tomorrow | 291 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with BPCL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if BPCL opens on a positive note, our first target will be ₹286.78. If Target 1 is achieved, we will aim for Target 2 which is ₹291.17.
But if BPCL falls below the average value of ₹283.07, you can enter a sell side position with target number 1 - ₹278.68 and second target - ₹274.97
BPCL's Weekly Targets
| 1st Up Target | 294.92 |
| 2nd Up Target | 307.43 |
| 1st Down Target | 274.62 |
| 2nd Down Target | 266.83 |
As the week for BPCL ended on bearish sentiments, we can expect further continuation of this sentiment. BPCL's initial target will be 294.92 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 274.62 in the upcoming week.
Weekly OHLC Values
| Open | 298.15 |
| High | 299.65 |
| Low | 279.35 |
| Close | 282.40 |
Week for BPCL started with an open price of 298.15, and the close was at 282.40. BPCL reached the highest of 299.65 and dipped lowest up to 279.35 last week. This indicates a bearish sentiment for the week.
BPCL full month swing targets
| Monthly Up Target 1 | 315.22 |
| Monthly Up Target 2 | 327.73 |
| Monthly Down Target 1 | 254.32 |
| Monthly Down Target 2 | 226.23 |
Targets of ₹315.22 can be expected to be reached in the coming month. Once BPCL achieved this target, we can aim for the next upside target of ₹327.73.
BPCL if fails to hold upside, down targets of ₹254.32 and ₹226.23 can be achieved by end of this month.
For complete three weeks if BPCL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as BPCL
| Symbol | Name | Industry |
|---|---|---|
| RELIANCE | Reliance Industries Limited | Oil & Gas Refining & Marketing |
| ADANIENT | Adani Enterprises Limited | Thermal Coal |
| ONGC | Oil & Natural Gas Corporation Limited | Oil & Gas Integrated |
| COALINDIA | Coal India Limited | Thermal Coal |
| IOC | Indian Oil Corporation Limited | Oil & Gas Refining & Marketing |
Summary
BPCL is expected to reach the target of 286.78 in tomorrow's trading session.
After achieving the initial target in BPCL, we will aim for higher targets of 291.17 tomorrow.
However, if BPCL starts to trade below ₹283.07, then we will shift our focus to the sell side and aim for down targets of 278.68 and 274.97.