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Tech Question: Has HPCL discovered its backside?

What’s the long-term outlook for Hindustan Petroleum Company Ltd (HPCL)?

Rujuta Panse

HPCL (₹250.7): The inventory has been broadly vary certain between ₹155 and ₹355 for a chronic time frame since Might 2018. There’s resistance at ₹260 which could maintain for now. Yet another leg of down transfer focusing on ₹200-190 could possibly be on the playing cards within the subsequent three months or so. This ₹200-190 is a powerful long-term pattern assist zone. A break beneath ₹190 could be troublesome. We are able to anticipate the inventory to see a contemporary rally from round ₹200. That may take HPCL as much as ₹350 over the subsequent one yr. If the inventory breaks above ₹260 from right here itself, then the rally to ₹350 can occur a lot faster.

Buyers with a long-term perspective should buy, say, 20 per cent of the supposed quantity at present ranges. Purchase the remainder on a fall at ₹205. Preserve the stop-loss at ₹155. Path the stop-loss as much as ₹225 as quickly because the inventory strikes as much as ₹280. Transfer the stop-loss additional as much as ₹290 when the inventory touches ₹325. Exit 40 per cent of the holding at ₹345 and transfer the stop-loss for the remainder of the holding to ₹330. Watch the market. In case the inventory manages to interrupt above ₹355, then it may possibly pave the way in which for a powerful rise to ₹450-480 thereafter.

What’s the long-term outlook for Repco Dwelling Finance? I’ve purchased this share at ₹159. Can it contact ₹250 within the subsequent one yr?


Repco Dwelling Finance (₹154): The broader pattern is down. Throughout the downtrend, the inventory made a low of ₹113.35 in June and has bounced from there. Nevertheless, this bounce-back transfer appears to lack energy.  An vital resistance is at ₹169. Solely a powerful rise previous this hurdle will carry the probabilities of seeing ₹250 into the image. Even in that case, the rally is probably not swift. It would take about six months or greater than that to the touch ₹250 after a break above ₹169. So, you want to be very affected person. When you have the endurance to see the sluggish rise, then you may maintain the inventory by holding a stop-loss at ₹132.

Alternatively, you may both exit the inventory at present ranges with a small loss or at ₹167 with a minor revenue. You’ll be able to reinvest the identical quantity in another inventory that may fetch you significantly better return inside the similar time span of six months. The best choice that you possibly can select is the second. Promote the shares of Repco Dwelling Finance and reinvest the quantity in another inventory.

I’ve purchased Pix Transmissions at ₹890 just lately. What’s the short- and long-term outlook for this inventory?

Shirjeel Ahmed Khan

Pix Transmissions (₹929.25): The general pattern is up. However inside the uptrend, the inventory has been extremely risky in a really broad vary for nearly a yr now. For the brief time period, the inventory can oscillate inside ₹850-1,050 (slender) or ₹750-1,100 (broad) vary. The extent of ₹750 is a really essential assist. So long as the inventory stays above this assist, the uptrend will stay intact. You’ll be able to hold a stop-loss at ₹720 and maintain the inventory. Resistance is at ₹1,050-₹1,100.

A powerful break above ₹1,100 will increase the bullish momentum. Such a break will take the inventory as much as ₹1,400-1,500. Path the stop-loss as much as ₹940 as quickly because the inventory breaks above ₹1,100. Transfer the stop-loss additional as much as ₹1,180 as quickly because the inventory touches ₹1,300 on the upside. Exit the inventory at ₹1,400.

Revealed on

August 06, 2022

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