Hindustan Petroleum Corporation Ltd - Breakout Opportunity
Date: 26-Dec-2024
LTP: Rs. 419.30
Targets: (T1) Rs. 439 --> (T2) Rs. 457 --> (T3) Rs. 520
SL: Rs. 388
Technical View:
•
HINDPETRO is in primary uptrend and was recently going through secondary downtrend within primary uptrend.
• After touching a high of 457.15 on 5-Sep-2024, it has retraced 22% to 354.90 level.
•HINDPETRO has breakout from it's secondary downtrend with higher than average volume on 26-Dec-2024.
•HINDPETRO is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has also crossed over 50 DEMA.
• RSI is trading at 63.98 and MACD is trading at 6.66.
• Looking strong to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 419.30
Targets: (T1) Rs. 439 --> (T2) Rs. 457 --> (T3) Rs. 520
SL: Rs. 388
Technical View:
•
HINDPETRO is in primary uptrend and was recently going through secondary downtrend within primary uptrend.• After touching a high of 457.15 on 5-Sep-2024, it has retraced 22% to 354.90 level.
•
HINDPETRO has breakout from it's secondary downtrend with higher than average volume on 26-Dec-2024.•
HINDPETRO is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has also crossed over 50 DEMA.• RSI is trading at 63.98 and MACD is trading at 6.66.
• Looking strong to start a new swing from here.
Liked the analysis? Boost/Like this idea and follow my ID for more ideas.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
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