Podcast | Today's stock pick: Hindustan Petroleum Corporation

| Updated on March 17, 2020 Published on March 17, 2020

Investors with a short-term perspective can buy Hindustan Petroleum Corporation at current levels. The stock has advanced 6 per cent accompanied by above average volume on Tuesday, breaching a key immediate resistance at ₹213 and its 21-DMA decisively.

There has been an increase in daily volume over the past seven trading sessions. Taking a contrarian stance, the short-term outlook is bullish for the stock. It can continue to trend upwards and reach the price targets of ₹225.5 and ₹230 in the ensuing trading sessions.

Traders can buy with a deep stop-loss at ₹210.

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Published on March 17, 2020