A Demand Zone for Hindustan Petroleum (HPCL) refers to a specific price level on the stock's chart where buying pressure has historically been strong, causing the price to reverse or bounce upward. These zones are identified by areas where the price consolidated before making a sharp upward move, indicating a concentration of buying interest.
In the context of HPCL, a demand zone could represent a level where institutional or retail investors are likely to step in and buy the stock, either due to perceived value, support levels, or other technical factors. Traders often use these zones to identify potential entry points for long positions, anticipating a price reversal or continuation of an upward trend.
In the context of HPCL, a demand zone could represent a level where institutional or retail investors are likely to step in and buy the stock, either due to perceived value, support levels, or other technical factors. Traders often use these zones to identify potential entry points for long positions, anticipating a price reversal or continuation of an upward trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.