Hindustan Oil Exploration Ltd. CMP— Rs 171.80
Technical Outlook & Trading Strategy:-
The share price of Hindustan Oil Exploration has taken strong support & seems to be making a double bottom at Rs 165. It has shown a reversal bar at this level , suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of Rs 178 /Rs 180 shortly.
We recommend a buy at current price and on pullback to the level of Rs 169 --Rs 168 with stop loss placed below Rs 165.
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