HINDPETRO trade ideas
Hind Petro : Buying opportunity with good R:R (Demand Zone)Hind petro has been bleeding since months. In previous day session it closed at 171 which is its a good support. If you zoom out its chart on weekly time frame
you will find this zone is very crucial for Hind petro (171-164). So, swing short should be avoided and anybody having postiion on short side they must book their profit.
If a bounce came from here and breaks the 175 level buy can be initiated with SL 170.
#HINDPETRO CASH : LOOKS GOOD ABOVE 177.50#HINDPETRO CASH
05.10.2020
LOOKS GOOD ABOVE 177.50
STOPLOSS 175
TARGET 179.50-180/182
(SUSTAIN ABOVE 177.50..
WILL GO 182 FOR SURE)
(STRONG SUPPORT 170 ONLY)
CMP 175.60
seems like a good short for tgt 150seems like a good short for tgt 150. expecting 150 in a few weeks.
Question on Hindpetro.Its testing support for second time, Which means now its not as strong as last time. Hence remain cautious.
Only If you can follow SL, Go long with SL as close below 165
HINDPETROHPCL is in downward trend so it's not possible to catch the exact bottom. So request everyone to strictly follow the levels in the chart for better risk and reward.
#HINDPETRO - DAILY chart bullish POSITIONALHindpetro - Daily chart Bullish
positional trade
LONG ABOVE 192....
200 expected Target
Hindustan Petrol: AnalysisKeep an eye on Hindustan Petrol. Expected momentum is in upward direction.
.
Reason to Buy:
1) Forming a triangle pattern
2) Taking support on weekly as well as daily trend line.
3) Formation of 'W-Pattern' (wait for neck line break)
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Stop-loss must be below the previous immediate swing. RR ratio must be calculated and traded accordingly.
Hindustan Petroleum Near Trend line support Near Trend line support
Possible Trade
Entry @ 191
SL 162
Target 1 -> 210
Target 2 -> 220
Target 1 -> 238
Risk : Reward -> 1:2.12
