Hindustan Petrol Buying Recommendation
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.
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.
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 .
1) On 15min time frame, we can see there is hidden bullish divergence is formed. As price is making higher lows and RSI is making lower lows.
If tomorrow it sustain above 300 level then we can see upmove.
Please refer below chart : 15 Time Frame.
Trade Setup for Date 04-10-2021: