INDIAN OIL CORP LTDShort
IOC - Intraday trade for 7th of September
Updated
IOC is testing lowe levels of its daily time frame keep an eye on the following levels:-
.
83.55 - below which is the Selling Zone (immediate selling might happen)
if fall
Target 1: 82.40
.
84.65 - above is the buying zone wait till it closes above it
if rise
Target 1: 85.65
.
testing levels:- Might test levels of 85.65 which is a resistance zone in the daily chart, and fall again.
.
Max profit to be booked: 2% change in either direction.
.
83.55 - below which is the Selling Zone (immediate selling might happen)
if fall
Target 1: 82.40
.
84.65 - above is the buying zone wait till it closes above it
if rise
Target 1: 85.65
.
testing levels:- Might test levels of 85.65 which is a resistance zone in the daily chart, and fall again.
.
Max profit to be booked: 2% change in either direction.
Trade active
Shorted IOC at 84.65 knowing that it is facing resistance at crucial intraday support and resistance zone as mentioned above (Blue line). Booked profit at 82.40 as mentioned above. Pure price action trading.Trade closed: target reached
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