Hi guys, today I'm back with a stock Hindustan Petrol, as you can see it's an inverse head and shoulders pattern after a big downtrend and it also broke 200 ema giving us some more confirmation, if we talk about targets then the targets are 302.50. The best thing about this stock is that it always respects the 200 ema, so we can assume that this time it'll also...
Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Wait for 200 EMA breakout
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
stock is falling from quarterly supply area. possible buy area will be 208 or bellow for again quarterly supply. target 256. stoploss will be 200 closing basis
Hindustan Petrol Buying Recommendation
Introduction:
This report aims to provide a technical analysis of Hindustan Petrol stock and a recommendation for buying the stock in the short term. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements.
Background:
Hindustan...
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.
