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.

Rajat Kumar Singh,
B.Tech. (Delhi Technological University)
Community Manager (India), TradingView

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