SWING TRADE

Swing Trade
HPCL (Buy CMP 402.20)

Today EGoM announces much awaited increase in prices of petrol, diesel and LPG which result in astronomical increase in the share prices of this counter. From here we expect rally to remain continue in this counter probably upto 440-460 mark.
Technical indicators like stochastic and Macd RSI are suggesting an uptrend as they all are on the verge of entering into positive zone Stock is also trading above 8 and 16 Day EWMA taking it as short and medium term support.
Buy at 400 lvls for Target of 440,460 SL of 375