Shares of Hindustan Petroleum Corporation Ltd (HPCL) recently surged past a long-standing resistance zone, making fresh record highs in November amid strong technical momentum and volume support. The breakout comes after extended consolidation around the Rs 450–460 level, marking a significant shift in market sentiment.
Technical analysts highlight that the stock’s rise above its 200-day moving average and the previous resistance zone signals a new swing upward. One prominent call suggests a potential target in the range of Rs 545-560 over the next 3-4 weeks for short-term traders.
Given the sharp rally, investors face a key decision: whether to buy on strength or lock in profits. With momentum clearly in its favour, accumulation on dips could be a strategy for those bullish on the stock’s medium-term prospects. Conversely, for those who participated in the initial breakout, booking some profits could mitigate risk in case of short-term consolidation.
In summary, HPCL’s breakout presents a tactical opportunity. Traders seeing the momentum may enter now with defined risk; longer-term investors should monitor correction paths for accumulation rather than chasing the recent high.
