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Hindpetroanalysis

HINDUSTAN PETROLEUM seems Undervalued and Worth of InvestmentHindustan Petroleum Corp. Ltd. engages in the business of refining crude oil and sales of petroleum products. It operates through the Downstream and Others segment. The Downstream segment deals with the refining and marketing of petroleum products. The company was founded on July 5, 1952 and is headquartered in Mumbai, India. Indian state refiners' gasoline sales in the first two weeks of February fell below pre-pandemic levels, the first decline in about six months, preliminary industry data showed, as record high retail prices hit consumption. Diesel sales, which are related closely to economic growth and account for about 40% of overall refined fuel sales in India, fell by 8.6% in the first half of February, the largest decline since August last year, the data showed. Gasoline and gasoil prices in India have risen to a record high, mirroring global markets. Taxes account for about 61% of retail gasoline prices and about 56% of diesel prices. State fuel retailers sold 1.03 million tonnes of gasoline and 2.84 million tonnes of diesel from Feb. 1-15, the data provided by an industry source showed. "Definitely sales of petrol and diesel have declined in the last few days. People are feeling the pinch of high oil prices," said Ajay Bansal, president of the All India Petroleum Dealers Association. State companies - Indian Oil Corp IOC , Hindustan Petroleum Corp HINDPETRO and Bharat Petroleum BPCL - own about 90% of India's retail fuel outlets. "First area where the customers vent their anger or show their grievance is the petrol pump to our staff and we have been seeing it," Bansal said. Rising diesel and petrol prices could push up inflation, making it harder for the Reserve Bank of India (RBI) to continue its accommodative monetary policy. "Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the center and the states could ease the cost push pressures," the RBI said in its policy document earlier this month. State retailers sold 1.2 million tonnes of liquefied petroleum gas in the first half of this month, 5.4% higher than last year, while jet fuel sales declined by 41.3% as curbs on air travel remained in place, the data showed. as we can see there are total of 3 Take Profit Areas, you ca target any of them consequently.
NSE:HINDPETROLong
by BitonGroup
10
HINDPETRO Hindustan petroleum, this stock has formed Inverted head and shoulder chart pattern on daily time frame, and recently it has given breakout from same along with the good intensity of volume, which indicates that the stock is supposed to be bullish, more interesting is bottom of head is at perfect horizontal support trendline and target of head and shoulder is also nearby previous highs or horizontal resistance levels. all indicators of weekly and daily are also aligned with each other, so this could be a good to go long at these levels or in dips (if any) with stoploss of recent swing low which is pegged at 264.75. Inv head and shoulder chart pattern breakout with good intensity of volume in Daily Retested neckline in hourly Weekly macd is Uptick and also above zero line Daily macd positive crossover and Uptick and also above zero line Weekly Stochastic positive crossover and Uptick Daily stochastic positive crossover and Uptick Rsi in Weekly Uptick and also near 60 Rsi in daily above 60 uptick Dmi adx also positive in daily Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing
NSE:HINDPETROLong
by RK_Chaarts
1