AbhishekHSinghCMT

HPCL- What a double bottom-No trade zone between 487-403

NSE:HINDPETRO   HINDUSTAN PETROL
9
Doji Candle having monthly range as 487 on top & 403 to the bottom will decide which way this stock wants to head. Likely this could be range bound movements in the coming months unless levels mentioned above are taken out.

Trading a sideways pattern is always tough- you can make money Intraday wise, but chances of getting trapped shall be on a higher side if you cannot manage the trading risk in a blink of the eye.

For me this stock will be on the radar once doji candlestick extremes are crossed. From base of 50's it traveled close to 500 in 2-3 years- so what a double bottom .

Trade active: 07:50 Hrs 5th Feb2017

Last Price@543

Crossed 487 gave this move upside as expected.

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

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