Hindustan Petroleum Corporation Ltd - Breakout OpportunityDate : 26-Dec-2024
LTP : Rs. 419.30
Targets: (T1) Rs. 439 --> (T2) Rs. 457 --> (T3) Rs. 520
SL : Rs. 388
Technical View:
• NSE:HINDPETRO is in primary uptrend and was recently going through secondary downtrend within primary uptrend.
• After touching a high of 457.15 on 5-Sep-2024, it has retraced 22% to 354.90 level.
• NSE:HINDPETRO has breakout from it's secondary downtrend with higher than average volume on 26-Dec-2024.
• NSE:HINDPETRO is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has also crossed over 50 DEMA.
• RSI is trading at 63.98 and MACD is trading at 6.66.
• Looking strong to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
