HindPetro has announced its results, and my first impressions are that they are exceptional. During times of lockdown, petroleum sales would be one of the most affected ones. Take the example of commercial flights. Their demand have reduced by more than 90%. They are one of the top consumers of petroleum and when their demand falls, automatically, demand for fuel...
Hindpetro is about to reach a strong a key level
Both of the two are important.
Based on price action 5 things can happen.
1>Breakout and continue
2>Test the level and reverse
3>Price consolidates near that level(sideways)
4>Fakeout and reversal
5>Retracement & continuation
So take your trade with confluence
and if further assistance is needed always contact 9831633793
HindPetro is currently on major Monthly resistance level, and the price is moving in an upward trending channel.
If the price breakouts 220 , can be a confident trade to Go Long with first target being 228.. Stop loss around 214.
Key Levels for BPCL :
Please trade with caution and consult your financial adviser before trading.