Target: Rs 525/550
Hindustan Petroleum continues to trade in a strong long-term uptrend, having resumed its bullish structure after an earlier corrective phase. The stock has posted higher highs and higher lows and is currently undergoing a healthy consolidation near the upper end of the range, indicating profit booking rather than a trend reversal. The stock remains a buy at CMP, with potential for a fresh upside move. Support is seen at Rs 442.
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