vivekgujrati

IOC made bullish divergence on MACD histogram on weekly chart

Long
NSE:IOC   INDIAN OIL CORP
Indian Oil Corporation has given bullish divergence on weekly chart. The depth of histogram ( bearish zone) is shallow via a vis previous bottom in price which made earlier.

Average Direction index just moved upward (>20) in weekly chart....Further, on weekly chart stock has taken support between 122-125 in last 3 occasion.

IT seems overall bullish pattern is formed for stock.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.