PL Stock On Radar - HIND OIL EXP

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL Technical Research: STOCK RADAR :- HIND OIL EXP cmp: 171, the stock has formed a double bottom formation pattern in the daily chart at around 150 levels forming a good base and currently a decent recovery moving past the significant moving average of 200 DMA has improved the bias and further a decisive move past the resistance zone of 176 shall strengthen the trend to anticipate for further rise in the coming days. The RSI also after a consolidation period has shown a trend reversal with much potential visible. With good volume participation witnessed, we suggest to buy this stock for an upside target of 190 – 210 levels keeping the stop loss near 150 zone.