Technical view by Nooresh

HPCL — Huge Price and Volume Breakout out of Channel.

HPCL thumb HPCL     Huge Price and Volume Breakout out of Channel.

 

HPCL – The stock has seen a volume of 37 lakhs on NSE which is highest in the last 1 year almost. With delivery marking of 52% is very high considering the stock does 50% also normally. This indicates there has been strong buying into the stock.

One can accumulate the stock in parts at 320 and 310 with a  stoploss of 305 and upside target of 350 +

 

Other stocks like Reliance Inds has given a strong breakout and sustaining above 740 can give a good 5-10% jump. Also BPCL looks interesting above 760.

Time seems to be changing for OIL and GAS sector.

 

Happy Investing,

 

Nooresh Merani

Article by Nooresh Merani

Nooresh has written 936 articles.

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