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HPCL: How Technical Analysis helped us capture a 7.5% movementHPCL Idea published on 19th June Trade Analysis The trade was purely based on historical price points... important support & resistance levels - the green & small blue line told us the importance of 210-214 levels - targets of 228 / 236 were kept looking at longer time frame horizon The upper resistance is around 243 highlighted by the red line. But rather looking at it as exact number, I look at it as zones / range. And at 236 it is at the lower end of the target range... The trade had a profit potential of 7.5% in cash market with a risk of 4.3% - providing a decent Risk::Reward ratio Now here's an interesting part. With our option strategy we converted the trade in to 5.5% reward potential (a little less profitable) but more importantly with full risk cover for a fall up to 210.50. How about that...!!! The lesson is loud and clear. Do your home work. Study, Analyse & Keep patience. Do not think of get rich quick. Rather Focus on managing your risk first. And then look for profits. Hope you find the lesson helpful. Follow for more such trading ideas You can Message in private if interested in learning. Message only if you are serious about learning. Thanks & Regards Vaibhav Deshpande
NSE:HINDPETRO
by indiamarketoutlook
HPCL: Chart set up & strategyHPCL CMP 219.6 Till the time HPCL holds 214-212 zone it has doors open to test 228 / 236 ------------------------------------------------------------------------------------------------------------- Alternatively one may consider selling 215 Put Option around 4.5 Lot size 2100 Max profit potential 9450/- per lot Yield potential of 5.5% on Capital. In built loss protection for a fall in price up to 210.50 till 25 June 2020 Take care & safe trading...!!!
NSE:HINDPETROLong
by indiamarketoutlook
3
HPCL and WTI CRUDE correlation?[/Hi, 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 highetst import biller. And if WTI corrects and sustains below $ 60, that will be a great sign for Indaian economy and stock markets. The HPCL charts analysis is based on YTD data. And charts used for analysis are logarithmic scaled 1% X 3 Daily High Low chart and Daily High-Low 2% X 3 chart. The WTI Crude Oil chart is constructed with YTD data but the chart is Daily High-Low 2% X 2 chart. The HPCL last traded at 283.90(NSE) and WTI is trading at $ 67.04. Let us have a look at the WTI Crude chart. b] i63.tinypic.com The WTI is in an Uptrend and the Bullish support line is breached once. But the trend lines on 2 box reversal chart are different than application of the trend lines on 3Box reversal chart. As of now the WTI is in sideways mode. The SELL signal level is 66.44 ( marked with Arrow ‘A’ on the chart)on the downside and 72.03 on the upside. The WTI Crude trend may change to down if it breaks the low of 62.53 marked as on the chart. The WTI breached and genrerated SELL signal yesterday(yesterday's low is $66.32). Please note the Critical Price Point @ 60.05 is marked as on the chart and note down the monthly marking on the chart during the first quarter of the 2018. Please try to correlate the timing and CPP on HPCL charts with WTI chart. Looks like if WTI sustains above the CPP that will be a problem for the OMC like HPCL due to subsidy burden. Let us have a look at the HPCL Daily 1% X 3 High-Low chart. i64.tinypic.com [/IMG The chart is showing the price action history for the past two months. The quadruple bottom break down at 301.25 is marked as , the bearish resistance line is marked as , the trend changing point at 289.45 is marked as . The formation (Triple top break out followed by a double top break out) is called Bullish Catapult, which is a reversal signal. The Alert level 272 on the chart is marked as . The Bullish support line is marked with Arrow . The stock tested the yesterday marked with on the chart. Let us see how it will react to the WTI fall today. We can correlate the sideways action on WTI after making a high of $75 and the action here in HPCL stock. Let us have a look at the Daily 2% X 3 High-Low chart. i64.tinypic.com The bearish resistance line is marked as , the Ascending Triple top break out shaded in yellow is marked with and the Trend changing point @ 298 is marked as . Please try to correlate the Critical Price Point on this chart and the WTI chart. Now the HPCL charts are showing signs of Bias change, can we say WTI will fall from this levels and the bias changes from Up to Down?! Keep watching the Alert levels marked on both the charts. Good day
NSE:HINDPETRO
by thepnfchartist
HPCL: A breakout candidateChart set up - We are looking at weekly chart of HPCL - after facing downward pressure from Line of resistance 4 times, it finally gave a breakout on the 5th occasion - currently it is back retesting the breakout - stock has support at 224 / 216 / 204 odd levels __________________________________________________________________________________________________________________ Trading plan Target for the given set up Short term - 259 Medium term - 296 / 318 (28 / 38% ROI potential) Keep SL at for extreme short term traders 223 for short term traders 216 for medium term perspective -203 ________________________________________________________________________________________________________ Understanding reward potential and risk profile At minimum we are looking at 13% reward potential against a loss risk of 3-6% ( Risk :: Reward ratio 1::2) At the highest target level we are looking at a reward potential of approximately 38% against a loss risk of 12% (Risk:: Reward ratio 1::3) ______________________________________________________________________________________________________ Do let me know if you find the analysis and insights helpful. Like and Follow for more ideas like these...!!! Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:HINDPETRO
by indiamarketoutlook
2