📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Medium term support
📌 Symbol/Asset: HINDPETRO
🔍 Description: Stock is around medium term support. Might see good bounce from hereon.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further...
With the previous idea of BPCl..HPCL too could be shorted right here which is relatively low risk with a SL above above 260.
Gives a low risk reward and can be pyramided downwards if it breaks 247 where there will be a short term breakdown.
Elliott Wave Analysis:-
Both correction and impulse wave we are expecting a correction.
once correction get ended an impulse take place.
View 1:-
There is also expected an impulse wave i) completed and a correction wave ii) was almost over if raise start then impulse wave iii) is expected to move on.
View2:-
Correction wave was still pending and a low...
Elliott Wave Analysis.
Both correction and impulse wave we are expecting a correction.
once correction get ended, an impulse wave will enlight the move.
View 2:-
There is also expected an impulse wave i) completed and a correction wave ii) was almost over if raise start then impulse wave iii) is expected to move on.
I'm not a SEBI registered...
Currently Hindpetro is taking a great support at its week long Uptrend trendline. at present time it has a high potential of moving up from level of 264.70 to 308 in a time period of 30 days.
📉 Alert! Bullish Support Spotted! 🐻
💵 : Short term Trade
📊 Pattern: Law Of Polarity
📌 Symbol/Asset: HIND PETRO
🔍 Description: Price is around the support and The Trend is Rangebound
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
In the Weekly Chart of HINDPETRO ,
we can see that; it has formed a Hammer Candle on Support Trendline.
Possible momentums are shown in chart.
Enter on breaking its HIGH with LOW as SL.
BSE:HPCL1! NSE:HINDPETRO
DISCLAIMER: This is not any kind of investment / Financial advice, I am sharing my view only for educational purposes.
HPCL is trying to be bullish but still it has to face many sellers, if it has any potential for going up , we can see the price testing and moving around the upside target as specified in the chart.
Consider every...
255 to 268 is the support zone
Trend view:
Above the green Trend line stock is in positive territory
Currently possibly a Correction phase in up trend.
Trading Plan
Consider buying at cmp and or on dips towards 258-245
SL: Exit if stock closes below the green trend line on weekly charts
Take care & safe trading...!!!
Disclaimer
-The view expressed here...
Double top pattern formed and neckline broken in 28th July 1D timeframe. It has taken support on 50 EMA line.
It has good potential to be a swing trade if it stays down below 50 EMA line on next trading session.
Go short for a good swing trade if price breaks 276.30 which is a good resistance level.
Target for swing traders can be - 263.70
If price forms...
