Vibhat

IOC LONG (reversal)

Long
NSE:IOC   INDIAN OIL CORP
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2
We can observe that IOC is now showing a reversal.

It was in the Consolidation stage and now has broken the Consolidation Channel and is trending up. We have the confirmation as 2 GREEN WICKS can be seen above the EMA 45 Line.

This ticker is a good pick as we can see an overall Ascending Channel pattern as the SMA 180 Line is being a Support to the ticker.


Comments

what target do you expect by sep end? planning to buy sep fut at cmp
Reply
Vibhat SK_tron
@SK_tron,
It will jump by 10% by Wednesday.

It has a Dividend payout on 26 Sept. The price may fall on that date.
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SK_tron Vibhat
@Vibhat, will the FUT price increase with spot if it is increasing due to the dividend rally?just a doubt.
Reply
Vibhat SK_tron
@SK_tron, Brother, as per my knowledge,
The value of the share Drops by the amount of Dividend (per share) on the day of the payout, which in our case is 26 Sept.

Just wait for the Reversal Confirmation before entering in a position in Futures.
Reply
SK_tron Vibhat
@Vibhat, yes, but wont it drop during ex-date which was Aug 6 ig?
Reply
Vibhat SK_tron
@SK_tron,
Bro do some research, I am not sure about that.
Reply