INVERSE H&S FORMATION : COMPRESSION ON SHORTER TF : POSITIONAL :NEUTRAL view on HINDPETRO.
Inverse H&S shows bullishness but expecting price to fill the GAP as well. Breakout or Breakdown is expected on trendline.
HINDPETRO trade ideas
Can Hindustan Petrol reach a target of 203 from 171? As per my analysis, Hindustan Petrol NSE:HINDPETRO is currently trading at demand zone. In history, the price has bounced of multiple times from this zone. This could lead to pushing the price upwards towards 203.
Please do let me know in case my understanding is incorrect.
HINDPETRO | Time for some upside
Bearish cypher pattern - CD leg forming
Bullish divergence on the 4h to the daily chart.
Historical performance, although not a guaranteed factor of performance, shows similar divergence on the daily with a pull back of 30%. This time, however, the pullback might be below 20% as the pattern is of smaller magnitude.
Have fun, stay safe!
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
