TradeTheTip

IOC | Ascending Triangle & BREAKOUT

Long
NSE:IOC   INDIAN OIL CORP
Swing Trading opportunity ! 30min Chart Alert !!!

--Buy above =92.30
--Target = 95. 40 and even more
--Stop-loss = 91. 05
--Lot Size = 5700
--R:R = 1.84
--Expected Profit = 16,000 β‚Ή per lot ( 4.50% )

Technical Reasons to trade :- 🧒

1) ioc has formed ascsending triangle
2) Volume is good at the time of breakout
3) multitime frame is bullish
4) target is based on resistance zone
5) retracement can happen


Guys check out the related ideas as well, it will worked really well !

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Comment:
Trade closed: target reached: Target is achieved 🎯

Bought @ 92.60
Booked @ 95.40
Points earned = 2.80
lot size = 5700
PROFIT booked = 15,960 per lot ( 3.02 % ) in two days

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