Umang_Sharma

Hindustan Petrol: Analysis

Long
NSE:HINDPETRO   HINDUSTAN PETROL
Keep an eye on Hindustan Petrol. Expected momentum is in upward direction.
.
Reason to Buy:
1) Forming a triangle pattern
2) Taking support on weekly as well as daily trend line .
3) Formation of 'W-Pattern' (wait for neck line break)
.
Stop-loss must be below the previous immediate swing. RR ratio must be calculated and traded accordingly.
Trade active: Investing half quantity at 197.65 rest above 200.65
Trade active: Moving as expected
Comment: Market sentiment is negative. It is going against my analysis I am not going to trade this breakout.
Trade active: Partial Quantity inn @ 200 levels.

Comments

what can be the maximum downside before moving up
Reply
Umang_Sharma competitiveIgu1917
@competitiveIgu1917, If this stock has to move up it should take support somewhere around 190.00 levels.
Reply
competitiveIgu1917 competitiveIgu1917
Brother Is there any more downside left in this stock ?
Reply
Umang_Sharma competitiveIgu1917
@competitiveIgu1917, Yes brother, if this 180.00 level breaks then next will be a concrete support at 165.00 - 170.00. Market sentiment is sideways to down trend for now.
Below this level their will be a free fall but it is highly unlikely to happen.
Reply
Hello Will it go to 220-230 levels in one month time frame ? . Today also it was down . There is only positive news in this counter still this stock is moving upside
Reply
Umang_Sharma competitiveIgu1917
@competitiveIgu1917, I am not sure if understood your question the way it meant to be but up to what I understood the market was down in the last one hour because of some news and it wasn't rising today, it was acting as expected up till last one hour where there is a sharp fall. We are going to know soon if the market is going to rise or fall depending upon how is it going to act on Monday because as of now it is holding the support levels. I suspect it is going to fall a bit more because their is clear seller domination in the last two hour chart.
+1 Reply
competitiveIgu1917 competitiveIgu1917
what is the botton support level price
Reply
Umang_Sharma competitiveIgu1917
@competitiveIgu1917, According to my analysis their is a minor support which can act as a major one at near about 191.10. Below that their is a support at 180.00 region.
Reply
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