Buy Hindustan Petroleum Corporation Limited @ 266-268, SL AT 261, TRGT 278 - Religare Broking
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Derivative Ideas
HINDPETRO gained 0.8% and closed at 270.5 on 10th May. The stock has been finding support at 262-264 levels and seeing good traction after that. Now after the hammer candlestick pattern formation at the support on the daily chart, HINDPETRO is showing some strength. Holding 261, the stock is poised to see good upside in the coming days. We thus suggest initiating Longs as per the given levels.
Strategy:- - BUY HINDPETRO @ 266-268, SLOSS AT 261, TRGT 278.
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