Hindustan Oil Exploration about to head higher!
Positional trading pick!
#HINDOILEXP might head towards 300 levels
Fundamentals:
- Mcap: 2471 cr; P/E: 9.31
- ROCE: 20.4%; ROE: 24.1%
- 3 yr Sales/PAT CAGR: 40%, 24%
Technicals:
- Trend changed to uptrend in Apr'23
- Price retested the breakout zone in Aug'23
- No follow-through selling after Aug'23 sell-off
- Price consolidated towards channel support for the last 5 months
- Price forming a higher high & breaking out with volumes this week
Stop - 167 or 10.7%
#HINDOILEXP might head towards 300 levels
Fundamentals:
- Mcap: 2471 cr; P/E: 9.31
- ROCE: 20.4%; ROE: 24.1%
- 3 yr Sales/PAT CAGR: 40%, 24%
Technicals:
- Trend changed to uptrend in Apr'23
- Price retested the breakout zone in Aug'23
- No follow-through selling after Aug'23 sell-off
- Price consolidated towards channel support for the last 5 months
- Price forming a higher high & breaking out with volumes this week
Stop - 167 or 10.7%
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