Plan to buy the oily , can be good for health for 295 -297 zone as it is highly negotiated price zone - if you get it could be awesome just remember -prices should not dip below 290's as precaution.
Buy in the zone 295 -297 with strict stops below 290 for target 320-330 & Higher in coming days
Buy in the zone 312 -315 if holds & spends some time dancing in that zone with strict stops below 310 for targets 320-330
Buy only above 320 for target 330
Sell if plan 3 target done & returns below 330 & holds below 330 for target 320 - 315 - 307
Below 310 - Our plan to buy is only in the range 295-297 as suggested in Plan -1
We have fair chances of Hind Petro puking (Vomit) or selling from current levels of 308-310 which can be seen -holding below 312 levels - should not move above 312 levels for selling.
If that happens -we can see levels of 300 -297 target zone, which will coincide with our plan 1
As suggested at 11:00 Hrs we shall look to sell in 308 - 310 -It is there in the zone - we just keep a close eye -if market is interested -they should sell first & we will follow our brother "Ram"
To be on safer side we will exit Hind Petro at cost of 309 as it is not going below 307 & shall plan to re-enter later--- as SBIN & Bank Nifty are moving as expected in upside direction
Doing lot of sideways so better to trade sell below 306.50 as a safe trader & target 300 -297
If you are risky trader & afford to lose 3.5 points -stops above 312 then sell at current email@example.com or 310.50 -311 zone for same targets downside 300 -297
Turned upside above 306.50 from 307 - Likely I don't suggest to trades in between but holding 306.50 - we can have the bounce to 310-311 zone where we plan to sell later holding below 312 as precaution level.
307 is holding tight on downside - demand is coming at that level so it is bouncing from that level. Unless 307 & later 306.50 is broken it is not good to sell.
That is how market changes its mood in between which is evident as 307 is forming strong support it could take all sellers by surprise & boom on upside
Sheer reason is only 307 -307 -307 - if that level & below 306.50 holds -oil could have a different plan for upside - 312 -320 -330 - DO you think so ?
See it is not falling at the rate at which it should have been so recent low@306 even below suggested levels of 306.50 -307 is not a convincing sell trade. So, I will suggest to be careful for short trades.
It slipped below 306 - & touched 300 levels which is close to downside objective of 295-297
We have important level 300 as day low -if holds then it can push upside for 312 & higher
This is called ------- o la la - picking right at the bottom @300 when market is falling . Holding the falling knife is also an art - never thought.
Another 4 bucks upside - Total 8 bucks from Day's Low@300 - What a pick.
Looks positive for 320 -330 next
Plan 2 target done@319 -close to 320
Plan 3 --------------------- "Buy only above 320" Oil leaked @319 to 302 - Wow!
Closed - Thanks
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw