Saturday, May 11, 2013



Hindustan petroleum was in trading range of 275 to 320 for major part of 2012. Due to petrol & Diesel price hikes and other reforms( like Control on LPG Gas subsidy)  brought by govt all oil stocks started moving. HPCL being one of the major Oil companies, broke out of its trading range and made a high of 381.65 on 18th Jan 2013.

2013 seems to be a good year for the investors of OIL companies.Stock started its rally from yesterday and gave a break out of its short term trend line above 313 and closed exactly on trend line.Volumes alos promising compared to last one week.

Buy the stock at CMP for a target of 317/322/330/344/357
Note: Stock closed above its 200 DEMA today.

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