Hello Trader. I am sharing my view on Hindpetro for short term. As per the technical analysis Hindpetro seems to be good stock for short term trade. One can buy the stock above 330 for the target of 360 for Swing trade and 390 for positional trade.
Before you invest please consult with your financial advisor. I am not SEBI Registered Advisor and I am sharing the...
Power stocks are already in a bull run, keeping the same environment the target price is 328 in couple of weeks. Swing entry is advised.
Note: No negative news should be induced in the market within the given target time.
Hindpetro is ready for symmetrical triangle breakout after inverted head and shoulder pattern .For swing trade you can buy at retest level and targets will be 290 and 310 sir will be at 272. And IOC is also made inverted head and shoulder so that there will be really coming in this sector.
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...
Hind petro is forming a H&S pattern and has given a good breakout to cover the gap.
Buy at CMP (282.5)
Add more around 275
Target 1: 292.5
Target 2: 300
Target 3: 308
Disclaimer: Views are for education purpose only. Do your own research before investing
NSE:HINDPETRO is yet to break its own long term trendline. But, its Relative Strength Charts have given an early breakout, potentially for a long term upside.
This too in an environment when other PSE and Commodity Stocks are outperforming the index. We have already added long this week in this counter.
Hindustan Petroleum Corp. Ltd. engages in the business of refining crude oil and sales of petroleum products. It operates through the Downstream and Others segment. The Downstream segment deals with the refining and marketing of petroleum products. The company was founded on July 5, 1952 and is headquartered in Mumbai, India.
Indian state refiners' gasoline sales...
This analysis is purely based on price action and Chart Patterns.
The analysis is on daily TF hence target can be achieved in couple of days to weeks.
Trade entry with SL and Target is explained in image itself.
For more clarity on how the price has moved in past, and how important are the zones drawn in the image, check the image linked below