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Down channel , Expected channel breakout

Long
NSE:IOC   INDIAN OIL CORP
IOC on a daily chart is following a down channel .lower lows are being formed. and lower highs. this is a false recovery probably upto 414 . oscillators and tech indicators are in favor . this can be cashed in. the last 5 candles are pretty strong. but if we see a channel break out that will be a big bonus.
There is resistance zone around 390. if the stock sees to hold that level and volumes pick up . we can see upmove.
Trade active
Comment: 20 points profit. closing just above 400 was a very good sign.

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