HASCOL Hascol Petroleum Ltd. Intraday Analysis 1st June 2020

Under Pressure

Our Pivot: 15.70

Our Preference: Start short selling Hascol below 14.70 and average it out till 15.30 with strict stop loss of 15.70 and profit target at 14 and 13.86.

Alternate Scenario: Upward penetration of 15.70 will call for 16.60.

NOTE: HASCOL is being capped by descending trend line along with a strong horizontal resistant region, meanwhile hourly momentum indicators have changed their direction towards bearish side.

Hourly Chart with Supports & Resistances: