Bullish mood in HINDPETROInverse Head And Shoulder is formed and retest of support line is a good factor for a BULLISH moment in NSE: HINDPETRO. Volumes are goods. Priority is good bullish with stop loss at 200 .
HINDPETRO trade ideas
Hindustan Petroleum - Buy on dips strategyStudy:-
Good structure; 2 Inverted H&S formation with double bottom. Increase in volume observed and 20 EMA for Vol is increasing. RSI is in overbought zone. After crossing 200 DEMA gained momentum.
Wait for retracement to happen as already moved substantially.
Observed buying during last hour. Expected to move up.
PCR - 0.99 and put writing observed at 240 level.
* This chart is only for educational purpose.
HINDPETRO: Double bottom formation breakout
NSE:HINDPETRO
Double bottom formation and neckline breakout
RR: 1:3
HPCL: How Technical Analysis helped us capture a 7.5% movementHPCL
Idea published on 19th June
Trade Analysis
The trade was purely based on historical price points... important support & resistance levels
- the green & small blue line told us the importance of 210-214 levels
- targets of 228 / 236 were kept looking at longer time frame horizon
The upper resistance is around 243 highlighted by the red line. But rather looking at it as exact number, I look at it as zones / range. And at 236 it is at the lower end of the target range...
The trade had a profit potential of 7.5% in cash market with a risk of 4.3% - providing a decent Risk::Reward ratio
Now here's an interesting part.
With our option strategy we converted the trade in to 5.5% reward potential (a little less profitable) but more importantly with full risk cover for a fall up to 210.50. How about that...!!!
The lesson is loud and clear. Do your home work. Study, Analyse & Keep patience. Do not think of get rich quick. Rather Focus on managing your risk first. And then look for profits.
Hope you find the lesson helpful.
Follow for more such trading ideas
You can Message in private if interested in learning. Message only if you are serious about learning.
Thanks & Regards
Vaibhav Deshpande
Northbound Journey to begin in HPCLOn the daily chart stock gave breakout of Inverse Head and Shoulder pattern with volume. Stock is trading above the parabolic Sar and even the directional oscillators trading positive. Going forward we can see good upside momentum in the stock and stock can test 266-273 levels (19%-23% upside). Downside level of 204 (8%)is going to play a strong support for the stock.
HINDPETRO CLEAR BREAKOUTHPCL GIVE BREAKOUT . ITS GOOD FOR SWING . SECURE ENTRY WILL TAKE RETEST LEVEL . RISK AS PER CAPACITY .
#EDUCATIONAL PURPOSE
HPCL looks bullishHPCL looks bullish from CMP. 225 is first target.
Note: This analysis for education purpose only
HPCL: Chart set up & strategyHPCL
CMP 219.6
Till the time HPCL holds 214-212 zone it has doors open to test 228 / 236
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Alternatively one may consider selling 215 Put Option around 4.5
Lot size 2100
Max profit potential 9450/- per lot
Yield potential of 5.5% on Capital.
In built loss protection for a fall in price up to 210.50 till 25 June 2020
Take care & safe trading...!!!
Northbound Journey to begin in HPCLOn the daily chart stock gave a neckline breakout of Inverse Head and Shoulder pattern. Beside this directional oscillator ADX is trading positive and stock is trading above the parabolic SAR. Going forward we may see good momentum in the stock and stock can see and upside of 266-273 (upside of 19% to 23%)which is the Gap level as well as Inverse HS target. Downside level of 204(8%) will act as a strong support.
LONG if breakoutSeems to be a good Long opportunity.
Wait for breakout around 228.5.
Buy at 230. Targets - 240, 250, 260!!
TRIANGLE BREAKOUTTRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up.
AC line will act as resistance line.
BD line will act as support line.
when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction.
STOP LOSS: If the breakout is upwards then support line will act as stop loss.
If the breakout is downwards then resistance will act as stop loss.
PS : This is 15 minute candlestick chart so the targets are most likely to achieve in 1-2 days.
The accuracy of this strategy is 80%.
hind petro #inverse head n shoulder formation is in progresswatch long at cmp with support of 199 for 222/228/245
[Buddha] HINDPETRO Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
HPCL - Price Action - Bullish SetupPrice Action in HPCL suggests bullish bias on daily time frame.
Initiate long.
Target 1: 220
Target 2: 226
Stop Loss : 193
