The stock of Hindustan Petroleum Corp (HPCL) announce Q3 results today. Following a prolonged downtrend, the stock tested a significant support at ₹223 and bounced back, gaining 3.7 per cent on Tuesday to end at ₹231.6 on the BSE. The outcome of the quarterly results could provide a clear direction for the stock. A strong plunge below ₹223 will strengthen the downtrend and drag the stock down to ₹217 and ₹220 levels. But positive results can push it up to ₹240 and ₹250 levels.

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