HINDPETRO trade ideas
Bullish Harmonics in HINDPETROWe have seen a good fall on weekly timeframe, we will go long @ 161 to 157 with SL of 135 else one can go intraday long with SL of 148.9
#AG
HINDPETRO 4HRBullish BAT formed exactly at Daily bullish bat zone level ..Bottom Reversal- two bar Sign Of Strength. First bar is widespread down bar closing on/off the low with high volume (demand swamping supply) or low volume (no supply). The low and the close of first bar are lower than the previous few bars. The second bar is widespread up bar closing on/off the high on higher or lower volume than the first bar.
As second bar close & high are higher than the first bar high and volume on second bar is higher than the first bar volume, it shows effort to rise is successful ,It shows immediate strength (Effort vs Result) & can be traded immediately on first No Supply / Test.
Price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
HINDPETRO Daily BULLISH BAT With Bottom Reversal it’s a two bar Sign Of Strenth. First bar is widespread down bar closing on/off the low with high volume (demand swamping supply) or low volume (no supply). The low and the close of first bar are lower than the previous few bars. The second bar is widespread up bar closing on/off the high on higher or lower volume than the first bar.
As second bar close & high are higher than the first bar high and volume on second bar is higher than the first bar volume, it shows effort to rise is successful (if second bar low is lower than the first bar low it shows additional strength). It shows immediate strength (Effort vs Result) & can be traded immediately on first No Supply / Test. We need LOW VOLUMES now with RSI above 30
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
FALLING WEDGE BREAKOUT IF THIS STOCK CLOSES ABOVE THE H&S NECKLINE THEN THE TRADE SETUP WILL BE VALID
REFER CHART FOR DETALS
Symetrical Triangle Formation in HINDPETRO Intraday: HINDPETRO Buy above 212.2 TGT: 214.2/216/217.3 SL: 209.3
Intraday: HINDPETRO Sell Below 209.3 TGT: 208.1/207.3/205.5-- SL: 211.2
#HPCL #BANKNIFTY #NIFTY #NSE #BSE #TRADING #COVID19 #HINDPETROHINDPETRO
HPCL
HINDUSTAN PETROLEUM CORPORATION LTD.
CMP: 220.90
Target 1: 246
Target 2: 259
SL: 215
Short term 15% Upside PotentialIt's very straight forward. Risk to Reward Ratio is in my favour. As long as Nifty holds this trade will bear me fruits.
Risking 1% of portfolio.
Hindustan Petroleum shortHindustan Petroleum is good for short till 185. watch out for 200 support level. if its broken then 185 is imminent
hpcl (hindustan petroleum)hello!! yeah this stock is again a very volatile stock can't say much about this too but yeah trendlines, supports and resistances are there for the reference one can trade according to them as if the side trendline will break then lower side can be taken and if upper resistance will be broken then up side can be seen
Hindustan Petrol from 17 July 2020The stock has come out of downtrend and pushing towards the upper range
Currently buyers exhaustion ( retracement ) can be seen --> MFI also started decreasing --> expecting price to come to red zone than continue its push to the 240 target range
Trade Setup :
When price comes down to 215 Level --> SELL PE option which has value of 5rs ( possibly 205,200)
