Hindustan petroleum, this stock has formed Inverted head and shoulder chart pattern on daily time frame, and recently it has given breakout from same along with the good intensity of volume, which indicates that the stock is supposed to be bullish, more interesting is bottom of head is at perfect horizontal support trendline and target of head and shoulder is also nearby previous highs or horizontal resistance levels. all indicators of weekly and daily are also aligned with each other, so this could be a good to go long at these levels or in dips (if any) with stoploss of recent swing low which is pegged at 264.75.
Inv head and shoulder chart pattern breakout with good intensity of volume in Daily Retested neckline in hourly Weekly macd is Uptick and also above zero line Daily macd positive crossover and Uptick and also above zero line Weekly Stochastic positive crossover and Uptick Daily stochastic positive crossover and Uptick Rsi in Weekly Uptick and also near 60 Rsi in daily above 60 uptick Dmi adx also positive in daily
Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing