HPCL - HINDPETRO HP NSE:HINDPETRO CL had been consolidating close to a year now. And by looking at the pace of recovery of the Indian economy and keeping the earnings season in mind, HPCL seems to be ready for an up move. Price levels are as below -
Buy - ~ 212 + ( stock respects the support level of 210 )
Target - 235+
SL - 208
Influencing factors -
1. Budget expectations
2. Earnings for 3rd quarter for FY 21
3. Increase in the demand of automobile and its ancillaries.
NOTE : These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as a stock advice or recommendation.
HINDPETRO trade ideas
Hindpetro - Intraday / Swing Trade SetupHindpetro CMP - 214.05
Looking bearish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Sell at or Below 213.50 / Stop Loss 218
Target 1 - 210
Target 2 - 207
Target 3 – 204
Disclaimer: This is my view and for educational purpose only.