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:
Sell 232-235, SL is marked with the red line and targets with a black line. If the stock opens above 238 or breaks 238 within 30 mins from the market open time, then avoid this trade.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
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 has been showing rally and has crossed the resistance level and above 200 ema.
The stock is in overbought territory.
There can be reversal signs after 1-2 sessions after the rally is halted and stock comes back to normal position.