HindPetrosince beginning this counter is into parallel channel. Recently it has touched upper edge of the channel. A sideways movement or touching the lower edge of the channel would be good oppurtunity to enter.
HINDPETRO trade ideas
Inverse Head and Shoulder failed breakoutNSE:HINDPETRO
Hindustan Petrol had a head and shoulder breakout on the daily time frame.
However, it failed and has formed an inside bar candle.
If the support at 237 fails and price goes below 200 DMA on 1HR timeframe, we might see a downfall towards 220 levels.
If the price takes support at 237, it may consolidate below 244-250 for some time till we have a breakout on the trendline on 1 Day timeframe.
HINDPETRO Breakout SeenHind Perto Looked Bullish I am Entering into Long Position in HINDPETRO Future at 248- 249 For the Targets of 270 With the stoploss 239
Reasons To Buy HINDPETRO:
# Hind Petro Has seen Head and Shoulder Breakout on Daily Chart.
# Today Breakout with Volumes has been observed.
# Stock has seen Significant Correction from its swing highs of 358.
Hindustan Petro AnalysisPerfect Head & Shoulder Pattern found.
Breakout happened.
Target: 274
SL:240/236
Hindustan Petro HNS shoulder BreakoutHead and shoulder breakout in Hindustan Petro..
Looking good for short term
Hindustan Petroleum - Head & Shoulder Pattern It has formed a good head and shoulder pattern in weekly time frame. Once it closes above 245 level, we can expect a good move.
Target :- 265
Please do your own analysis and correct me if I'm wrong. Thank You
Inverted Head and Shoulder Breakout on HINDPETROInverted head and shoulder breakout found on HINDPETRO, target of 290.
Note: This is only for educational purpose
Cup And Handle pattern in HINDPETRO.Discription:
Stock Name: HINDPETRO
Chart Pattern: Cup And Handle pattern
Time Frame: 1D
Entry: Breakout Above 245+
Targets: Breakdown Targets 280+
HINDUSTAN PETROLHINDUSTAN PETROL ....
1 - forming inverted H & s
2 - good volume
3 - bullish ma crossover
INVERSE head and shoulder in HINDPETROWe can initiate a long swing trade in hpcl if it gives closing above the levels of 245 forming an inverted head and shoulder pattern.
It's a high dividend paying stock as well so one can think of adding some quantity in the portfolio. A trend reversa NSE:HINDPETRO l could happen.
HPCL might be ready to rallyChennai Petro declared bumper results and i feel we can see a rub off effect on hpcl for the same. it can really rally from these levels.
HINDUSTAN PETROWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
INVERTED HEAD AND SHOLDER PATTERN ANALYSIS ON HINDPETRO 17.07.22BUY : 239 TO 211
FIRST TARGET : 330
Reason For Buying This Script :
In this script it is forming inverted head & shoulder patter in monthly time frame . Now the price is in right shoulder. Once the price close above 330 in monthly time frame and the next target 489. It has good potential to go life time high. Try to accumulate in lower levels.
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target.
ALL THE BEST ..
HPCL....Final Target 196HPCL....As seen in chart...moving under big trianlge....Final Traget of 196 is pending....
If levels of 196 will come , buy with small SL
Reversal can start from tomorrowHindpetro continuously down trend and now made doji. Hindpetro Jun 270 ce 👍 ( hold)
#hindpetro #hindustanpetrol Harmonic SupportNSE:HINDPETRO
Targets Mentioned on chart (black doted horizontal ray).
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
HindPetro - Consolidation4 Days of Consolidation
Looks like stock ready to break the downtrending channel
Currently in double bottom and double top range
If breaks, pullback and sustains 236 can again start uptrend
Bullish harmai formation in HINDPETROHINDPETRO is looking good with Bullish Harami formation.
Reasons:
Bullish harami formation is observed at the end of bearish move. So keep it in watchlist and watch the price action.
HM system
Hind petro @ 273 target 285Hind Petro @ 273 has strong supports at 270 wherein it has taken multiple supports, hence a sharp bounce to 285 levels can be expected also Open interest buildups is indicating longs in the stock
