Indian Oil Break Out
Indian Oil has given a breakout (though not very convincing due to lack of a big candle) at the resistance of 94~95 level. The short term target should be 98~100. The midterm target should be 104~105 and a long term target of 115 can be thought of for patient warriors.
However, option chain analysis shows a huge no. of calls (big resistance for this month) at the level of 100 and supports based on PUTs can be identified at 90 and 85 (more PUTs at 85 as compared to 90). Let's see how it unfolds. Disclaimer: I am new to Option Chain Analysis :)
However, option chain analysis shows a huge no. of calls (big resistance for this month) at the level of 100 and supports based on PUTs can be identified at 90 and 85 (more PUTs at 85 as compared to 90). Let's see how it unfolds. Disclaimer: I am new to Option Chain Analysis :)
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