🔍 Technical Analysis of Hindustan Petroleum Corporation Ltd

📈 Chart Pattern & Trend Analysis The weekly chart of HPCL reveals a consolidation breakout followed by a failed retest at higher resistance levels. Price action suggests a recent rejection near a major resistance, pulling back towards a previous breakout zone. A symmetrical triangle breakout occurred around April 2025, followed by a sharp move upward. However, the stock failed to hold above the ₹425–₹430 zone and has recently retraced from that level. 🔒 Key Resistance Levels ₹425.95 – Major resistance zone, previously acted as a supply zone in May–June 2024 and again in June 2025. Multiple weekly candles failed to close above this level. ₹440.00 – Psychological round number and minor price ceiling. ₹451.45 – 52-week high, the next upside target if ₹426 is decisively breached. 🛡️ Key Support Levels ₹380.00 – Immediate horizontal support, also near the breakout zone of the previous triangle pattern. ₹360.00 – Trendline support from earlier rising wedge, now acting as secondary support. ₹340.00 – Breakdown zone from early 2025; if breached, it signals a bearish reversal. 🧠 Volume Analysis Volume spiked during the breakout in April–May 2025 but has since tapered off, suggesting a lack of conviction on the upside. The current red candle (decline) has relatively higher volume, indicating distribution or profit booking near resistance. 🕯️ Candlestick Observations The most recent weekly candle is a strong bearish bar, rejecting the ₹425.95 resistance. There’s a possibility of a lower high forming, which may suggest weakness if ₹380 breaks. If HPCL holds ₹380 and rebounds, we could see a retest of ₹426, and a breakout may trigger a rally to ₹440–₹451. Triangle breakout structure still valid unless price breaks back below ₹360. Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 📄 Investments are subject to market risks. Read all related documents carefully before investing.