Inverse double top forming in NSE:HINDPETRO . A breakout above 242 would take the stock to next resistance around 320 which is also almost equal to the height of double tops.
FOR SHORT TIME TAKE LONG ON NSE:HINDPETRO BREAK OUT ON DAILY TIMEFRAME TARGET 241
It is on breakout, cleared recent multiple tops. Shall go to 238++ easily. Already cleared and above yesterdays volumes. It is only for educational purpose. Before taking investment take financial expert's advice.
after long time hpcl is in channel in weekly charts . please buy hpcl in delivery above 223.40 tgt 270 ,320 sl is closing below 200. simple chart .
price made good bounce from the support zone and if we break the trend line than we can move higher from here. also daily candles made good Bullish Divergence which is really impressive. Waiting for trend line breakout
As per my analysis, Hindustan Petrol NSE:HINDPETRO is currently trading at demand zone. In history, the price has bounced of multiple times from this zone. This could lead to pushing the price upwards towards 203. Please do let me know in case my understanding is incorrect.
Bearish cypher pattern - CD leg forming Bullish divergence on the 4h to the daily chart. Historical performance, although not a guaranteed factor of performance, shows similar divergence on the daily with a pull back of 30%. This time, however, the pullback might be below 20% as the pattern is of smaller magnitude. Have fun, stay safe!
IF THIS STOCK CLOSES ABOVE THE H&S NECKLINE THEN THE TRADE SETUP WILL BE VALID REFER CHART FOR DETALS
HINDPETRO HPCL HINDUSTAN PETROLEUM CORPORATION LTD. CMP: 220.90 Target 1: 246 Target 2: 259 SL: 215
Hindustan Petroleum is good for short till 185. watch out for 200 support level. if its broken then 185 is imminent
its moving under ascending triangle can breakout.
HPCL trading above its breakout also it is sustained above its 50,100,200 DMA. looking positive
Long if breakout is succesfull...Short on rejection of resistance....