AbhishekHSinghCMT

Hind Petro - Oily Crab - Good for Health-Just Rs 295-297

Long
NSE:HINDPETRO   HINDUSTAN PETROL
Note - Pardon me - Only Non Vegetarians are allowed to see the stuff - Just kidding- It is just a piece of analysis.
Plan to buy the oily crab , can be good for health for 295 -297 zone as it is highly negotiated price zone - if you get it could be awesome just remember -prices should not dip below 290's as precaution.

Trading Strategy

Plan 1

Buy in the zone 295 -297 with strict stops below 290 for target 320-330 & Higher in coming days

Plan 2
Buy in the zone 312 -315 if holds & spends some time dancing in that zone with strict stops below 310 for targets 320-330

Plan 3
Buy only above 320 for target 330

Plan 4
Sell if plan 3 target done & returns below 330 & holds below 330 for target 320 - 315 - 307

Best Regards
Trade active: 09:28 Hrs 30th May 2018

Last Price@311.15

Showing some respect to 310 - we shall wait to see if 310 holds then plan to buy as per plan 2 or plan to come back later. Have patience
Comment: 09:43 Hrs 30th May 2018

Last Price@306

Below 310 - Our plan to buy is only in the range 295-297 as suggested in Plan -1
Trade active: 11:00 Hrs 30th May 2018

Last Price@308.55

Next Strategy

We have fair chances of Hind Petro puking (Vomit) or selling from current levels of 308-310 which can be seen -holding below 312 levels - should not move above 312 levels for selling.
If that happens -we can see levels of 300 -297 target zone, which will coincide with our plan 1
Trade active: 11:23 Hrs 30th May 2018

Last price@309.20

As suggested at 11:00 Hrs we shall look to sell in 308 - 310 -It is there in the zone - we just keep a close eye -if market is interested -they should sell first & we will follow our brother "Ram"
Cheers!
Trade active: 13:13 Hrs 30th May 2018

Last Price@309

To be on safer side we will exit Hind Petro at cost of 309 as it is not going below 307 & shall plan to re-enter later--- as SBIN & Bank Nifty are moving as expected in upside direction
Trade active: 13:30 Hrs 30th May 2018

Last Price@308.70

Doing lot of sideways so better to trade sell below 306.50 as a safe trader & target 300 -297

If you are risky trader & afford to lose 3.5 points -stops above 312 then sell at current price@308.50 or 310.50 -311 zone for same targets downside 300 -297
Trade active: 14:08 Hrs 30th May 2018

Last Price@308.25

Turned upside above 306.50 from 307 - Likely I don't suggest to trades in between but holding 306.50 - we can have the bounce to 310-311 zone where we plan to sell later holding below 312 as precaution level.
Trade active: 14:37 Hrs 30th May 2018

Last Price@307.80

307 is holding tight on downside - demand is coming at that level so it is bouncing from that level. Unless 307 & later 306.50 is broken it is not good to sell.
Trade active: 14:45 Hrs 30th May 2018

Last Price@308

That is how market changes its mood in between which is evident as 307 is forming strong support it could take all sellers by surprise & boom on upside
Sheer reason is only 307 -307 -307 - if that level & below 306.50 holds -oil could have a different plan for upside - 312 -320 -330 - DO you think so ?
Trade active: 15:26 Hrs 30th May 2018

Last Price@306.80

See it is not falling at the rate at which it should have been so recent low@306 even below suggested levels of 306.50 -307 is not a convincing sell trade. So, I will suggest to be careful for short trades.
Trade active: 09:25 Hrs 31st May 2018

Last Price@301

Day Low@300

It slipped below 306 - & touched 300 levels which is close to downside objective of 295-297
Trade active: 09:27 Hrs 31st May 2018

Last Price@302

We have important level 300 as day low -if holds then it can push upside for 312 & higher
Trade active: 10:42 Hrs 31st May 2018

Last price@303.75

Day Low@300

This is called ------- o la la - picking right at the bottom @300 when market is falling . Holding the falling knife is also an art - never thought.
Trade active: 11:57 Hrs 31st May 2018

Last Price@308

Another 4 bucks upside - Total 8 bucks from Day's Low@300 - What a pick.
Trade active: 12:13 Hrs 31st May 2018

Last Price@309.25

We book our partial profit of 9 bucks & wait at sidelines
Trade active: 09:15 Hrs 1st June 2018

Last price@314

Looks positive for 320 -330 next
Trade active: 13:45 Hrs 1st June 2018

Last Price@313.90

It is holding at 314-315 zone so we close our intraday position & try to join in 309-310 zone
Trade active: 14:20 Hrs 1st June 2018

Last Price@312.15

Had a fall to 311.30 from 314 levels

If holds 309 on downside then we look for a bounce to 314-315 & more on upside.
Trade active: 12:27 Hrs 4th June 2018

Last Price@314

Plan 2 target done@319 -close to 320

Plan 3 --------------------- "Buy only above 320" Oil leaked @319 to 302 - Wow!
Trade closed manually: 12:35 Hrs 4th June 2018

Closed - Thanks
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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Comments

Hello Sir, Can we short HINDPETRO from 310 ?
Reply
@rbhawsar27, You can but with strict stops above 310 as you will be going against the trend.
Reply
Once in a while crab is good , particularly in Monsoon,
Reply
@AMBRISH, Good Morning! True
Reply
This crab is very slippery as well as a 'stop' hunter :)
Anyways I am little concerned with the starting point of the XA leg.
Great effort.
Good luck.
Reply
AbhishekHSinghCMT Bravetotrade
@Bravetotrade, As a precaution I have said - " not below 290's " - Let us see.
Reply
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