IOC has given cup and handle breakout on weekly charts. After Covid fall the stock has been trading in a range visible by blue lines. The stock has taken resistance at 116 and after few weeks consolidation and around 10% correction, stock has finally given breakout at 118. Next targets for this stock would be 170 and 225. It is a very good techno-Funda stock with very low P/E ratio and extremely well dividend record. Therefore, it a worth of an investment.
View - Medium term
Time - 6 Months to 1 year.
View - Medium term
Time - 6 Months to 1 year.
Comment:
140. around 30% gain