Jan 17, 2013, 01.38 PM | Source: CNBC-TV18
Sudarshan Sukhani, s2analytics.com is of the view that one should exit HPCL.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " HPCL has run up from Rs 270 to Rs 330. I am assuming that whatever news will come has already been discounted if it is favourable. So a run up is not expected. We are talking about short-term. If it is unfavourable then the market can react quite adversely. If I trade, I always get out before the news. Ideally one should get out without a stop loss, one should just exit. If one wants a stop loss then for a short-term trader, the stop loss is Rs 318."
At 12:36 hrs Hindustan Petroleum Corporation was quoting at Rs 334.75, up Rs 8.90, or 2.73%. It has touched an intraday high of Rs 335.25 and an intraday low of Rs 327.50. It was trading with volumes of 80,383 shares, compared to its five day average of 203,366 shares, a decrease of -60.47%. The share touched its 52-week high Rs 356.70 and 52-week low Rs 255.50 on 13 July, 2012 and 16 January, 2012, respectively.