HP
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
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.
Comment:
The stock took support from the initial support level of 216 and thereafter has gained close to 7% in 7 trading sessions. The target of 235+ is active and can be achieved within the week. The stop loss can be shifted to the level of 224.
Trade active:
T1 has been achieved on Feb 17, 2018. Update - T2 is still active and can be achieved in the coming 2-3 weeks.
Trade closed: target reached:
T2 of 258+ has been achieved. The stock has given an upside of ~10% from the levels of 235 in ~7 trading sessions. One can book profits here or can keep it for the long term perspective as the outlook of the sector in which the organization operates looks solid.