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Hindustan Petroleum Corporation Ltd 

* HINDPETRO has surged strongly of late, posting a fresh breakout from its resistance zone of multiple moving averages.

* The marginal dip is offering a fresh buying opportunity to those who missed the chance earlier.

* The current chart structure combined with the recent traction in the oil marketing companies(OMC) is further adding to the positivity.

* We thus suggest initiating fresh longs as per the given levels.

Technical Chart : Daily

BUY Hindustan Petroleum Corporation Ltd CMP: 242.55 Range: 238-2401 SL: 233 Target: 254

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