Hindustan Petroleum Corporation Limited Stock Forecast
Hindustan Petroleum Corporation Limited stock price ended at ₹506.65 on Wednesday, after gaining 2.71%.
(Updated on May 15, 2024)
The Hindustan Petroleum Corporation Limited stock price gained 2.71% on the last trading day (Wednesday, 15th May 2024), rising from ₹493.30 to ₹506.65. During the last trading day the stock fluctuated 2.58% from a day low at ₹496.75 to a day high of ₹509.55. The price has risen in 6 of the last 10 days and is up by 2.31% over the past 2 weeks. Volume fell on the last day by -982 thousand shares and in total, 214 thousand shares were bought and sold for approximately ₹108.62 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.20% during the next 3 months and, with a 90% probability hold a price between ₹397.47 and ₹496.49 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HINDPETRO.BO Signals & Forecast
The Hindustan Petroleum Corporation Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹505.74 and ₹486.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -5.17%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hindustan Petroleum Corporation Limited stock
Hindustan Petroleum Corporation Limited finds support from accumulated volume at ₹493.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹12.80 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HINDPETRO.BO) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Hindustan Petroleum Corporation Limited to open at ₹504.32, and during the day (based on 14 day Average True Range), to move between ₹485.67 and ₹527.63, which gives a possible trading interval of +/-₹20.98 (+/-4.14%) up or down from last closing price. If Hindustan Petroleum Corporation Limited takes out the full calculated possible swing range there will be an estimated 8.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹514.25 (1.50%) than the support at ₹493.30 (2.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hindustan Petroleum Corporation Limited stock A Buy?
Hindustan Petroleum Corporation Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.163 Sell Candidate Unchanged
Predicted Opening Price for Hindustan Petroleum Corporation Limited of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| ₹504.32 ( 0.461%) | ₹506.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDPETRO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 517.12 | 2.07 % | |
| R2 | 512.23 | 1.10 % | ||
| R1 | 509.21 | 0.505 % | ||
| Current price: | 506.65 | |||
| Support | S1 | 499.43 | -1.43 % | |
| S2 | 496.41 | -2.02 % | ||
| S3 | 491.52 | -2.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 533.20 | 5.24 % | |
| R2 | 516.85 | 2.01 % | ||
| R1 | 514.25 | 1.50 % | ||
| Current price | 506.65 | |||
| Support | S1 | 493.30 | -2.63% | |
| S2 | 477.25 | -5.80% | ||
| S3 | 468.95 | -7.44% |
HINDPETRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Sep 01, 2024 | ₹16.50 | 3.26% |
| 2 | Feb 07, 2024 | Feb 07, 2024 | Feb 23, 2024 | ₹15.00 | 2.84% |
| 3 | Aug 22, 2022 | Aug 22, 2022 | Sep 29, 2022 | ₹14.00 | 6.47% |
| 4 | Feb 28, 2018 | Feb 28, 2018 | Mar 08, 2018 | ₹14.50 | 4.02% |
| 5 | Jul 11, 2017 | Jul 11, 2017 | Sep 19, 2017 | ₹1.10 | 0.239% |
FAQ
Click here for our free guide on how to buy Hindustan Petroleum Corporation Limited Stock.
