November 13, 2015
HPCL (NSE Cash)
760 - 764
14 - 21 sessions
Multiple support zone
broken with sizable volumes
Source: Falcon (Chart Time:
Since last three months, most of the Oil Marketing Companies (OMCs) are undergoing a medium term
consolidation phase. On Tuesday, we witnessed a sign of near term weakness as the stock fiercely broke its
important support level of
755 on a closing basis. Since the early part of September,
755 acted as a sheet
anchor for the bulls; however, a violation of this support along with sizable volumes indicate probable shift in
sentiments. In last couple of sessions, the stock has given a modest bounce back towards the prior support of
755, which is now likely to act as a strong resistance.
considering these evidences
we advise traders
to sell this stock from current level to a rise up to
764 for a target of
702 in coming 14 to 21 trading
sessions. The stop loss for this trade set up can be kept at
November 13, 2015
Last 9 recommendations
Recom. Buying/Selling Range CMP
Target 2 Stop-loss
862 - 867
Revise SL to 862
283 - 281
397 - 395
92.70 - 92
Bank Of Baroda
161.50 - 161
487 - 490
Booked at 458
1390 - 1380
Booked at 1404
129 - 128
Booked at 136
793 - 788
Booked at 800
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website:
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