Hindustan Petrol oil-related NSE stock buying opportunities with a new weekly demand level created around 233, following what Brent Oil and Light Crude Oil are doing, all three reacting to monthly demand levels.
There is a clear long bias with a very strong reaction from a monthly demand imbalance around, a very strong monthly pin candle created four months ago. That reaction has created a new weekly demand level of around 175. No shorts are allowed in this oil-related Indian NSE Stock; Hindustan Petrol HINDPETRO has a clear long bias now. It might take a while for the price to retrace to that strong weekly demand level; if it does, then, it will also become a monthly demand imbalance and give the level even more odds. In the meantime, new lower timeframe demand imbalances can be created for swing trading and intraday. The weekly chart below is more of a longer-term analysis of Hindustan Petrol Indian Stock.
This analysis is similar to the Indian Oil Corp IOC supply and demand analysis, creating similar demand levels.
Very strong weekly supply level created, no reasons to go short. We don’t need any lagging o non-lagging indicators, no earnings, just pure supply imbalances to plan a trade.
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