The stock of Hindustan Petroleum Corporation Limited is Currently Experience a Short-Term Upward Trend, with a Recent 5% Decline Viewed as a CORRECTION.
The short-term trend is up for the stock of Hindustan Petroleum Corporation Limited (HPCL). The 5 per cent fall over the last few days is just a correction with the broad upmove. The stock has Strong Support Near Current Levels at ₹ 385 and ₹ 380.
We expect the share price to reverse higher from eater of these supports and resume the uptrend. That Leg of Rise will have the potential to take HPCL Share Price up to ₹ 435 in the next few weeks.
Video Credit: Gurumurthy K
Traders can go long now ₹ 387. Accumulate on Dips at ₹ 383. Keep the stop-level ₹ 365 initially. Trail the stop-level ₹ 395 as soon as the stock goes up to ₹ 405. Move the stop-close further up to ₹ 410 when the price touches ₹ 420. Exit the long positions at ₹ 430.
(Note: the recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on May 9, 2025