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...
Hind petrol char is ready to give 5% to 10% return in next few days or week this chart is ready give reversal on down rising channel now price is 215 may be trg 240/260/280 stoploss 200.
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.
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.
Wave 3 extended 161.8% of wave 1, and we can see a powerful rally in an extension of wave 5.
Hind Petrol Futures can hit the following targets before Oct end.
Target 1: 352
Target 2: 389
Target 3: 400
Where can we enter? The following rules can help you get the perfect entry.
A. Upper band of the parallel channel at 290 .
B. High of 3rd wave at 312 .
...
HINDPETRO -Buy call for HINDPETRO was given on 11 May.
Buying Range was 260-265 . Currently trading at 320.
The stock is heading to 450 levels in midterm.
Below is the call shared on May 11
Breakout of a consolidation phase.
The breakout happened with good volumes.
Coming back for a retest.
Support from 200 Day Exponential Moving Average.
Good opportunity to enter a long position.
* Educational purpose only *
NSE:HINDPETRO
Note: This is for educational purpose only. Please do not trade F&O in this.
There seems to be a bullish breakout in play. The breakout is happening from last 52 week resistance. There seems to be a breakout is RSI as well. RSI at 69 indicates bullish momentum. Moreover, the breakout is happening post build up near resistance which is a sign of strength.
SL: 220₹
