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Hindpetrosell

Simple Trade Setup | HINDPETRO |04-10-2021 [INTRADAY]NSE:HINDPETRO Observations: 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: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
NSE:HINDPETRO
by Trading_hawk
Hindpetro Volume Price AnalysisHindPetro 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 will also fall. But even after this, HPCL recorded almost 3 fold profits, which is a great deal in itself. This is a bullish sign for the company. The above, was in terms of fundamentals. But what does the price and volume say. According to my analysis and observation, the 2 volume expansions(4th August 2020 14:45 and 6th August 2020, 09:15) have happened when the price tried to move higher and the strength of the candles were pretty strong and also wide in range, suggesting that demand is overcoming the previous supply at lower levels. But the last volume expansion which happened on 6th August 2020, 14:45, was when price tried to move higher, but at the end the supply exceeded the demand causing the price to close below the opening. The follow up candle was an inside candle with a wick. This is sending mixed signals and so the price needs to decisively break either levels: 219.45 on the upside or 208.75 on the downside, in order for it to determine the trend. Breaking either level will result in the break of a pivot level, which when broken, causes the trend to change. All in all, the price is currently in a range, and a breakout would confirm the trend. If price breaks on the upside, then the supply zone would be a resistance, and if the buyers are strong enough, they would soak up all the supply and let the price move higher. Or else, there is no immediate support for Hindpetro and so the price can move towards 200 and lower. This is an educational post and all the opinions provided above and on charts are simply speculation. Nothing is 100% in stock market. Consult your financial advisor before taking trades I do not recommend taking trades according to my analysis as you may incur loss, for which I am not responsible. Trade carefully Grateful🙏
NSE:HINDPETRO
by inteliigentrader