is after enjoying a massive uptrend throughout late last year BPCL faced a heavy sell-off from its highs near 380-390. However the recent price action shows that the downtrend has paused and a sharp V-shaped recovery is currently underway. Support Level the stock found massive buying interest near the 260-280 zone. This area now acts as a very strong support. As long as BPCL holds above this level the short-term momentum remains positive. Resistance Level the immediate hurdle for the stock is around the 320-330 zone. This is an area where the stock previously consolidated before breaking down. If the price manages to break and close above 330 the next targets could be 350 followed by a retest of its previous highs near 380. BPCL has bounced back strongly from a major dip. The chart looks bullish in the short term. The key thing to watch right now is whether it has enough strength to break past the immediate 320-330 resistance zone. If it does, the reversal will be fully confirmed. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

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