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HINDUSTAN PETROLEUM CORPORATIOHINDUSTAN PETROLEUM CORPORATIOHINDUSTAN PETROLEUM CORPORATIO

HINDUSTAN PETROLEUM CORPORATIO

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HINDPETRO trade ideas

HINDPETRO : Booking ProfitsClosed the position @300.15 for a profit of about 22.06% of the invested capital, on 09/11/2023. The major reason for selling the stock is technical. Technically the stock is in a level where there is a high chance for selling pressure to kick in. So decided to take some chips off the table since there is also one more oil related stock in holding (BPCL). But I'm totally aware of the fact that there is a potential for a 9% move to the top of the parallel channel. But as of now the downside risk is more than the potential upward move. Will considering re-entering if price falls back to the lower trendline.
NSE:HINDPETRO
by Sniper-Traders
7
"HINDPETRO" A Short Term Bearish Opportunity in a Bullish TrendGreetings, traders! Today, let's focus on Hindustan Petroleum. Here's the current scenario: Overall Upside Trend: Historically, Hindustan Petroleum has been on a solid upward trajectory, which is a significant factor. Temporary Downward Move: However, in the short term, we're seeing a shift towards a downward direction, evident by the downward parallel channel on the chart. Confirmation of Bearish Move: There's a clear confirmation of this shift with a recent red candle. It's a sign that bears are gaining ground. Support Trendline Break: Additionally, the support trendline (marked with a red circle) has been breached, adding to the bearish sentiment. For Derivative Traders: If you're into derivatives, consider taking a long position with 260PE or 270PE options. A 1:1 Risk-Reward ratio is advisable, given this is an option buying strategy. Important Note: This analysis is focused on a potential short-term trading opportunity, not an investment recommendation. Always manage your risk accordingly. Your Analysis: What's your perspective on Hindustan Petroleum? Are you considering a bearish play, or do you have a different view? Share your insights with us! Stay Tuned: Keep following for more trading insights and opportunities. Until the next post, happy trading! Best regards, Alpha Trading Station
NSE:HINDPETROShort
by AlphaTradingStation
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 - Bullish Consolidation with VolumesNSE: MHRIL is closing with a bullish consolidation supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade Disclaimer: This is for educational purposes only.
NSE:HINDPETROLong
by BrahmaBull31