Hindustan Petroleum Corporation Limited Stock Forecast
Red day on Wednesday for Hindustan Petroleum Corporation Limited stock after losing 0.359%
(Updated on Jun 26, 2024)
The Hindustan Petroleum Corporation Limited stock price fell by -0.359% on the last day (Wednesday, 26th Jun 2024) from ₹334.65 to ₹333.45. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.53% from a day low at ₹332.35 to a day high of ₹337.45. The price has fallen in 6 of the last 10 days and is down by -36.37% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -429 thousand shares and in total, 3 million shares were bought and sold for approximately ₹895.37 million.
Given the current horizontal trend, you can expect Hindustan Petroleum Corporation Limited stock with a 90% probability to be traded between ₹335.12 and ₹586.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HINDPETRO.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Hindustan Petroleum Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹416.62 and ₹501.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -42.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hindustan Petroleum Corporation Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹5.10 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 2.85%.
Hindustan Petroleum Corporation Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HINDPETRO.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Hindustan Petroleum Corporation Limited to open at ₹334.42, and during the day (based on 14 day Average True Range), to move between ₹304.36 and ₹362.54, which gives a possible trading interval of +/-₹29.09 (+/-8.72%) 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 17.45% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹334.65, some ₹1.20 (0.36%) from the current price of ₹333.45, our system finds the risk reward not very attractive.
Is Hindustan Petroleum Corporation Limited stock A Buy?
Hindustan Petroleum Corporation Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.594 Sell Candidate Unchanged
Predicted Opening Price for Hindustan Petroleum Corporation Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹334.42 ( 0.290%) | ₹333.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDPETRO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 339.52 | 1.82% |
| R2 | 337.57 | 1.24% |
| R1 | 336.36 | 0.87% |
| Price | 333.45 | |
| S1 | 332.47 | -0.294% |
| S2 | 331.26 | -0.655% |
| S3 | 329.32 | -1.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 340.85 | 2.22% |
| R2 | 337.95 | 1.35% |
| R1 | 334.65 | 0.360% |
| Price | 333.45 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
HINDPETRO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Sep 01, 2024 | ₹16.50 | 4.95% |
| 2 | Feb 07, 2024 | Feb 07, 2024 | Feb 23, 2024 | ₹15.00 | 4.26% |
| 3 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | ₹14.00 | 8.51% |
| 4 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | ₹22.75 | 12.02% |
| 5 | Jun 16, 2020 | Jul 02, 2020 | Sep 01, 2020 | ₹9.75 | 7.33% |
FAQ
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