HPCL stays below cloud; ₹343–₹352 is resistance

Hindustan Petroleum Corporation,

closed near ₹340.55 and remains in a weak-to-neutral daily structure. Price is below the Ichimoku conversion line near ₹341.40, the base line around ₹343.95, and the lower cloud zone near ₹342.67. This cluster between ₹341 and ₹352 is now the immediate resistance area. The stock has attempted to recover from the recent ₹326–₹334 support region, but buyers have not yet been able to sustain price above the cloud. A move above ₹344 would be the first positive signal, while a close above ₹352 would indicate a more meaningful improvement in momentum. On the downside, ₹334 is the immediate support, followed by the recent low area around ₹326. A break below ₹326 would weaken the setup and may extend the corrective phase. The longer-term chart also shows a major resistance level near ₹376, which remains the level required for a broader trend reversal. HPCL is currently trading in a decision zone rather than a confirmed uptrend. The key is whether buyers can reclaim the ₹343–₹352 band. Until that happens, the chart remains cautious, with support at ₹334 and resistance defined by the Ichimoku cloud.