1. inverted head and shoulder pattern (blue line )
2. at higher time frame its a retest to a higher time frame (white trend line )
3 retesting shoulder line of inverted head and shoulder pattern (green in colour)
This is a high risk trade and SL will be tight.
Hind Petro has made double bottom on 200EMA with divergence on bottom indicators.
Alternatively we can take put bullish spread.
Sell265PE at 5
Buy 257 PE at 2,5
Max profit around 6k max loss 14k
Profit if above 262
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...
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!
hello!! yeah this stock is again a very volatile stock can't say much about this too but yeah trendlines, supports and resistances are there for the reference one can trade according to them as if the side trendline will break then lower side can be taken and if upper resistance will be broken then up side can be seen
The stock has come out of downtrend and pushing towards the upper range
Currently buyers exhaustion ( retracement ) can be seen --> MFI also started decreasing --> expecting price to come to red zone than continue its push to the 240 target range
Trade Setup :
When price comes down to 215 Level --> SELL PE option which has value of 5rs ( possibly 205,200)
Hindustan Petrol oil related NSE stock buy opportunities with new weekly demand level created around 233, following suit what Brent Oil and Light Crude Oil are doing, all three reacting to monthly demand levels.
There is a clear long bias with a very strong reaction from a monthly demand imbalance around, a very strong monthly pin candle has been created four...