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
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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
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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
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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
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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!
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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
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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
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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.
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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.
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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 ?
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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.
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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
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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