PL Technical Research: BUY HPCL - TECHNICAL PICK

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

BUY HPCL 254 STOPLOSS 245 TAREGT 280 -- TECHNICAL PICK

The stock has corrected well from 310 levels, bottoming out near the 245 level near the trend line support zone, and is currently indicating a positive candle with improved bias, anticipating a further upside move in the coming days. The RSI has also indicated a trend reversal, signaling a buy, and has the potential to rise further. We suggest buying and accumulating this stock for an upside target of 280 while keeping the stop loss at 245.