I want you guys to decide whether this is a breakout or not?
Make sure to keep tight stop-loss and have a good risk : reward ratio.
If you have any questions or need guidance.
Then feel free to message me here.
MACD Crossover is almost formed on the daily chart, stock is currently trading around its crucial support level (164).
The stock was up by 3.20% on 16 Oct. 2020.
With keeping the MACD crossover in mind, one can look forward to a swing trading opportunity in NSE:HINDPETRO .
SWING TRADE :
BUY IN 160-175 RANGE
STOPLOSS - 140
TARGET 1 - 200
TARGET 2 - 205
Cloud bottom provided the support and now price will try to bounce back and breakout of the cloud.
Targets in green line, Stoploss in red.
Please do your own research before investing.
This is not a trade advice.