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The stock of Hindustan Petroleum Corporation Limited is currently experiencing 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 within the broad upmove. The stock has strong support near current levels at ₹385 and ₹380.
We expect the share price to reverse higher from either 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 at ₹387. Accumulate on dips at ₹383. Keep the stop-loss at ₹365 initially. Trail the stop-loss up to ₹395 as soon as the stock goes up to ₹405. Move the stop-loss 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 risk of loss in trading.)
Published on May 9, 2025
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