Stock formed huge hammer candle with huge volume in Oct,18, since then stock gets stabilized.
Currently trading near previous trend-line resistance.
Further confirmation required to spot reversal in the stock, till then keeping it on in the track list..
NSE: Hindustan Petro
Pullback continue from selloff to 164 level
Trend is not very strong but can initiate a long position @ current level with stop loss 225 and target 245.
Trend is loosing movement, might retreat from 245 level for further downside.
Need to break out above 262 for further momentum on long side.
Hindpetro has an inside bar + at neck line
Go long if PDH is broken at PDH with SL at PDL ,
Short at PDL if PDL is broken, with SL at PDH
PDH - 250.85
PDL - 244.8
If it gaps, watch the firs 5 min candle, then follow ORB