Crucial Breakout Level on Monthly Time Frame - 108
If Crossing 108 then it will break its long term downtrend starting from 2017 and possibly head towards 120/150/170.
Stop Loss Level - 94/90/85
Trade active
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Breakout Given @ 97.5 First Target - 103 Second Target - 108 Third Target - 115/117
Possibility of correction from any level to 97.5/96 again before resuming journey upwards. (Resisitance Becomes Support Zone )
Comment
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First Target Reached - 103 Sideways Movement And Consolidation from these level for a few days is possible before resuming upwards to second target - 108
Comment
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As mentioned Earlier, Possibility of correction till 97.5/96.
Today Low 97.50 (Resistance Becomes Support Zone) So 97.50 is a strong support zone for IOC. Strict Stop Loss @96/95 Levels
I’ve bought 105 CE @ 1.85 for 28th Jan. Seems I should continue holding
chiragjhariani
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Energy sector breakout has high possibility since bpcl, ioc and reliance are at breakout levels at the same time...upcoming results of ioc is on 14th feb