johntradingwick

IOC - Positional idea | Potential 100% gain

Long
NSE:IOC   INDIAN OIL CORP
Key Highlights:

1. Bullish market structure - HH, HL
2. Volume expansion
3. Coming out of the accumulation
4. Approaching major resistance zone 115-122
5. Positions can be added between 100-115
6. Close above 122 will trigger a rally to 160
7. Target: 155, 186, 228. Stop Loss: 85
8. Time frame: 15-18 months

You are always advised to use an appropriate Risk-Reward ratio as per your strategy.

P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

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Comments

good one.. watching now
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@mihir2021 Thank you 🙂
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One of the most undervalued Oil refiner in the world.250 to 400 INR should be quite basic for IOC!!
Reply
johntradingwick anarchylife
@anarchylife, The price can reach any levels, it all depends on the market ;)
Reply
Great Analysis. Excellent trading opportunity.
Reply
johntradingwick nitishdixit93
@nitishdixit93, Thank you :)
Reply
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