HPCL share price has caught investor attention after strong institutional interest emerged, with global brokerage UBS placing it at the top of the oil marketing pack. Trading at ₹444.60, the stock has rallied sharply in recent sessions and now hovers just below a key resistance level of ₹448.50.
Institutional Backing Strengthens the Bullish Case
UBS has issued a “Buy” rating on Hindustan Petroleum Corporation Ltd (HPCL), citing attractive valuations and favorable margin trends. The brokerage has set a target price of ₹430+, aligning HPCL as the most preferred among the state-run oil marketing companies (OMCs), which include BPCL and IOC.
This comes at a time when moderating global crude oil prices are expected to support refining and marketing margins for these companies. Such macro tailwinds combined with institutional endorsements can be powerful triggers for breakouts.
Technical View – Eyes on ₹448.50
From a technical perspective, the immediate resistance lies at ₹448.50 on the daily line chart. This is a crucial level where many traders may opt to book profits. A failure to breach this zone could lead to temporary consolidation or minor pullbacks.
However, if the stock decisively breaks and sustains above ₹448.50 with volume support, it would signal the start of a fresh bullish leg. In this case, momentum traders and short-term investors may consider it a safer entry point.
Strong Support at ₹391.35
On the downside, ₹391.35 acts as a solid support level, historically known to trigger strong buying interest. This zone could be a re-entry point for those awaiting a dip-based accumulation opportunity.
Trading Strategy – Wait for Confirmation
- Safe Entry: Above ₹448.50 after a confirmed breakout
- Support-Based Entry: Near ₹391.35, if price pulls back
- Avoid Chasing: Without breakout confirmation, buying near resistance carries short-term risk
The HPCL share price is at a technically sensitive level, backed by bullish institutional outlooks. Traders are advised to wait for a clean breakout above ₹448.50 to avoid potential whipsaws. With fundamentals aligning and macro sentiment favoring OMCs, HPCL could see strong upside if resistance gives way.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
Ask ChatGPT
Viraj Jain is an active stock market trader and technical analyst with a sharp eye for identifying trend-driven opportunities. Passionate about market movements and price behavior, he specializes in analyzing crucial support and resistance levels in high-momentum stocks. Viraj is dedicated to keeping fellow investors informed with timely stock updates, chart-based insights, and actionable technical analysis that bridges the gap between market noise and informed trading decisions.