Long 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...
INSIDE BAR opportunity
Long at 226.15
Short at 221.50
SL mentioned, target open. Seems like it is going toward the long side as it is at a good demand zone.
However, more days of NIFTY shedding down will likely result in breaking this support as well.
It appears to have formed a double bottom in lower time frame after the recent sell off. If it sustains above 260 then it could retest 275 where it finds its first level of resistance for any bounce/reversal.
Hindustan Petroleum Corp. Ltd. engages in the business of refining crude oil and sales of petroleum products. It operates through the Downstream and Others segment. The Downstream segment deals with the refining and marketing of petroleum products. The company was founded on July 5, 1952 and is headquartered in Mumbai, India.
HINDPETRO
