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Crude Oil – Is there more steam left ?Crude oil TVC:USOIL fell sharply from 75 levels to make a low around 67. However, this low is higher than the previous one so the rally may not be over yet. I can see that the price has bounced back after retracing around 61.8% of the previous upmove, forming a Bullish Engulfing candle. So we might be in for another cycle of an uptrend in Crude. As long as the price sustains above 66, would be skeptical that the rally in Crude has ended. Would keep a close eye on OMCs (HPCL,BPCL,IOC) which might be hammered once again if there is a surge in Crude Oil price. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
TVC:USOILLong
by nano6yogesh
Hind Petro - Catching A Falling Knife-Is an Art or Magic!@30013:06 Hrs 4th June 2018 Last Price -314 Every trader should read this book - by Nobel Prize Winner - Daniel Kahnemann - " Thinking, Fast & Slow" who was was intrigued by the knife-catching phenomenon Over the years, I have realized that if you want to sustain in markets you should follow market gurus who have suggested one needs to think fast - I say you need to think super fast before anyone could even think fast & you will realize the magic in realtime & best part is if you can share it before it turns into reality which I could do it easily now through TradingView - amazing platform. Check at website bottom - hot it works. The current stock- HPCL is a real example when it was suggested that 300 could be the bottom & we need to pick for targets 312 - 320 ( suggested in last update - Hind Petro - Oily Crab - Good for Health-Just Rs 295-297) Last update Review Stock moved as expected from 300 lows & traveled to 312 & later 320 - High@319 as mentioned in Plan 2 - Last Update Fall from 319-320 this morning@4th June 2018 was even fantastic as it hurried to 302 -303 levels ( Plan 3 - Last Update "Buy only above 320 for 330 ) & holded 300 on downside- key level & jumped /bounced back to 314 levels What Next? Moving above 320 levels & holding above 320 - we shall look for 330 - above 330 for 348 -350 & above 350 for 375-380 zone. Best Regards,
NSE:HINDPETROLong
by WaveTalks
28
Oil Marketing Companies (OMCs) – Bottom in place?The Bear onslaught on Oil Marketing Companies (OMCs) has been going on for a long time now. However, with Crude starting to come down we may see some buying interest coming back to these stocks. Rupee is also at one of the lowest levels against Dollar, so a bounce back there may further help cut Oil Marketing Companies’ Losses. I can see the price making a lower bottom here with rising RSI showing a positive Divergence. Good opportunity to buy HPCL NSE:HINDPETRO with a small stop loss for a first target around 327 levels. Similar structure can be observed for other stocks like BPCL and IOC. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:HINDPETROLong
by nano6yogesh
Rally in Oil Marketing Companies (OMCs)? As we know, Oil Marketing Companies (OMCs) are being hammered since a long time now due to recent rise in Crude oil price and Rupee depreciation. Today’s strong Bullish candle may signal an end to this downtrend. I can see a Double Bottom formation here on BPCL NSE:BPCL with Positive RSI Divergence and similar structure has been observed on IOC and HPCL NSE:HINDPETRO as well. Let's see if it manages to hold the Double Bottom !l Have taken long position here with target of around 440 and stop loss of 368.
NSE:BPCLLong
by nano6yogesh
2