Today i would like to present the Point and figure method analysis of correlation between WTI Crude price and stock price of Oil Marketing Companies like HPCL.(HINDPETRO:NSE) The WTI crude corrected 2.38% yesterday. Let us see how the HPCL chart is postioned.The Crude price is a significant influence on balance of payments for India as the Crude is the ...
on hourly chart the stock looks EXTREMELY
after a great uptick ,
on daily charts moving side ways
and today closed belowan important mark of 970
can sell below 965 and can sell more below 950 for 935
No naked buy /sell /put/call
No over leverage , Use following strategy
Buy 330 April call @ 15.25
Buy 320 April put@ 8
Targets as mentioned on charts , Let it move in any direction , we will make money.
Our champ(@AbhishekHSinghCMT, if you dont follow him , you should start following ) has posted abt crude oil fall , So if crude prices falls ...
The range marked by the magenta lines comes across as a classic Wyckoff Reccumulation zone. The volume signature and the recent rally confirms the bullish view. A breakout past the higher end of the range and a successful re-test would get me interested in this stock from the long-side.
Am watching this stock with interest.
Hindustan Petroleum has been in uptrend and become more then double in 11 months, it has been trading at channel resistance and may target towards support some where between 450 in near term or it may break the channel to go further upward so SL is small 505