hi traders.,
1.hindpetro inverted h&s pattern breakout in day chart.., its formed in bottom of the channel
2. also long term its traded in channel ..,as per channel rule it has to come top of the channel., so we got a double conformation..,
3. over all bullish mode stop below 240 ( buy around 245- 250 )
first target 270 -275 and next target around 280 -285
...
since beginning this counter is into parallel channel. Recently it has touched upper edge of the channel. A sideways movement or touching the lower edge of the channel would be good oppurtunity to enter.
Hind Perto Looked Bullish I am Entering into Long Position in HINDPETRO Future at 248- 249 For the Targets of 270 With the stoploss 239
Reasons To Buy HINDPETRO:
# Hind Petro Has seen Head and Shoulder Breakout on Daily Chart.
# Today Breakout with Volumes has been observed.
# Stock has seen Significant Correction from its swing highs of 358.
NSE:HINDPETRO
Targets Mentioned on chart (black doted horizontal ray).
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading ...
4 Days of Consolidation
Looks like stock ready to break the downtrending channel
Currently in double bottom and double top range
If breaks, pullback and sustains 236 can again start uptrend
Hind Petro @ 273 has strong supports at 270 wherein it has taken multiple supports, hence a sharp bounce to 285 levels can be expected also Open interest buildups is indicating longs in the stock
HINDPETRO
Buy-Above 275
Sl-260
T- 295 305 325
The stock is giving a bounce from its support zones. RR is good from here. Picked this stock as RR is good from here. Double bottom is being formed here.
strength seen on weekly time frame with good momentum
this bar also happens to be
1)200MA
2) trendline support
3) spring near local support
4)break of downtrend trendline on daily time frame
5) if you believe crude prices will shoot up,this should be a good entry
As we see BEAR TRAP formation in HINDPETRO +200ema support. we can go long by keeping our stoploss below 200ema. Targets are mentioned in the chart itself.
NSE:HINDPETRO
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
