Hindustan Petroleum Corporation Ltd.
Extending the intraday positive bias the price closed around day's high which signifies short-term bullish bias in the price.
As of now 186.50 - 188 is SUPPLY ZONE and needed to be considered as an immediate small resistance zone.
Breakout and sustainable trading above 188 can inject fresh demand which may pull the stock price to test 190.50 - 192.80 - 194.60 - 197 (50MA) - 200 on the higher side.
On the lower side 178- 175 is a DEMAND ZONE and can be considered as supports.
Though the RSI looks attractive but other indicators - MACD - Directional indicators are flattish. There is no proper strength which can indicate a short term trend change.
This present move can be bounce-back only. There are a lot of hurdles in front of the price on the higher side to face.
DON'T GET TRAPPED.
KEEP AN EYE!!
Extending the intraday positive bias the price closed around day's high which signifies short-term bullish bias in the price.
As of now 186.50 - 188 is SUPPLY ZONE and needed to be considered as an immediate small resistance zone.
Breakout and sustainable trading above 188 can inject fresh demand which may pull the stock price to test 190.50 - 192.80 - 194.60 - 197 (50MA) - 200 on the higher side.
On the lower side 178- 175 is a DEMAND ZONE and can be considered as supports.
Though the RSI looks attractive but other indicators - MACD - Directional indicators are flattish. There is no proper strength which can indicate a short term trend change.
This present move can be bounce-back only. There are a lot of hurdles in front of the price on the higher side to face.
DON'T GET TRAPPED.
KEEP AN EYE!!
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Garey
Whatsapp - +91 9999 504 500
Garey
Whatsapp - +91 9999 504 500