rajsam210
Short

Trendline and 200 DMA Break

NSE:HINDPETRO   HINDUSTAN PETROL
Stock seems to have broken the 5 Year Uptrend Line

- Stock has also broken 200 DMA and is currently testing it as resistance, not a good sign again.

- If the rejection of 200 DMA is confirmed, a short position could be considered here.

- The downtrend might have started after the triple top formation earlier as highlighted by the rectangle .

- The stock could go down till the next support level as highlighted

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