INTRODUCTION:

WHAT IS TECHNICAL ANALYSIS?

Technical analysis is a means of examining and predicting price movements in
the financial markets, by using historical price charts and market statistics. It is
based on the idea that if a trader can identify previous market patterns, they can
form a fairly accurate prediction of future price trajectories. Technical analysis
employs models and trading rules based on price and volume transformations,
such as the relative strength index, moving averages, regressions, inter-market
and intra-market price correlations, business cycles, stock market cycles or,
classically, through recognition of chart patterns.
Technical analysis stands in contrast to the fundamental analysis approach to
security and stock analysis. In the fundamental equation M = P/E technical
analysis is the examination of M (multiple). Multiple encompasses the
psychology generally abounding, that is the extent of willingness to buy/sell.
Also in M is the ability to pay as, for instance, a spent-out bull can't make the
market go higher and a well-heeled bear won't. Technical analysis analyses
price, volume, psychology, money flow and other market information, whereas
fundamental analysis looks at the facts of the company, market, currency or
commodity. Most large brokerages, trading groups, or financial institutions will
typically have both a technical analysis and fundamental analysis team.
 BHARAT PETROLEUM CORPORATION LIMITED
(BPCL)

Bharat Petroleum Corporation Limited (BPCL) is an Indian public

sector oil and gas company headquartered in Mumbai, Maharashtra. The
Corporation operates two large refineries of the country located
in Kochi and Mumbai. The company is India's 2nd largest downstream oil
company and is ranked 275th on the Fortune list of the world's biggest
corporations as of 2019. BPCL ranked 672 in the Forbes 2018 list.

Bharat Petroleum operates the following refineries:

 Mumbai Refinery : Located near Mumbai, Maharashtra. It has a

capacity of 13 million metric tonnes per annum.
 Kochi Refinery : Located near Kochi, Kerala. It has a capacity of
15.5 million metric tonnes per annum.
 Bina Refinery : Located near Bina, Sagar district, Madhya Pradesh. It
has a capacity of 7.8 million metric tonnes per year. This refinery is
operated by Bharat Oman Refineries Limited, a joint venture between
Bharat Petroleum and Oman Oil Company.
 Numaligarh Refinery : Located near Numaligarh, Golaghat
district, Assam. It has a capacity of 3 million metric tonnes per year.
The company business is divided in seven SBU’s (Strategic Business Units),
like Retail, Lubricants, Aviation, Refinery, Gas, I&C and LPG.
They have popular Loyalty Program like Petrocard, Smartfleet.
As of 2018, BPCL was also setting up a Second-generation biofuels refinery at
Baulsingha village in Bargarh district, Odisha of 100 kilo litre per day (KLPD)
capacity. The plant would be using 2 Lakh tonnes of rice straw to generate fuel.
As of September 2018, 54% of the shares of BPCL were owned by
the Government of India (through the President of India), with the rest owned
by Foreign Portfolio Investors (17%), BPCL trust for investing in shares
(9%), Mutual funds and UTI (7.5%), Insurance companies (6%) and the balance
held by individual shareholders.

ABOUT THE STOCKS OF BPCL:

PRICE OF SHARES FROM 07/12/2020 TO 11/12/2020

DATE OPENING PRICE CLOSING PRICE

07/12/2020 420.00 397.25

08/12/2020 397.25 390.55

09/12/2020 390.55 395.00

10/12/2020 395.00 399.03

11/12/2020 399.3 397.00