TrenTrader13

Indian oil, IOC Short

Short
NSE:IOC   INDIAN OIL CORP
IOC is in a clear downtrend which gave us a nice bounce to the Kijun sen / 0.5 fib level followed by 2 days of rejection. Will be shorting the futures lot of feb 2020.
Short 115.45
Sl = 118.30
Target 1 = 109 , RR = 2.26
Target 2 = Open and trail with daily heiken ashi candles if trade works out in our favor.

Trade active: IOC has resumed downtrend as expected. we are halfway our target and should hit it this week InshaAllah. Keep trailing the stops as per convenience. lets make it a great loss free trade by bringing stops to entry.
Trade closed: target reached: Target of 110 has was hit. Trade Closed
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