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Thursday, August 19, 1999
HPCL swings back into the limelight
K Seshadri
HPCL appears to have swung back into limelight. The scrip had hit the bottom at around Rs.223. It is on the upmove now. It has attracted a jump in volum of Rs.39 crore, a jump from the Rs.7 crore earlier. The scrip has a good potential to move up. In the immediate short term it could target Rs.270. This rise could be further sustained towards Rs.300.Since the scrip has now established a bottom, it could be good choice for the long term players as well. In fact, it offers an ideal combination of being a long term investment, which could pay off in the short term. The stochastics and the RSI indicators in the daily chart have signalled a strong buy. They also point out that there is good room upside. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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