NSE:HINDPETRO appears to have taken support near 169 level and has been moving up slowly. It is facing resistance around 297 levels. However, it is taking support on the WLY Up trend indicating the Up trend to be intact.
A breakout is possible once price crosses immediate resistance level around 297.
Keep strict SL at 247 levels with a target of 397 and more.
Note: This is a medium to long term play. This analysis is purely based on Multi time frame S/R levels and trends.
Disclaimer: This is purely a knowledge sharing thought and not an investment advise of any sort. Any actions or ideas that an individual takes is his/her own decision.