sunnyfutures

IOC is Going to hit upper limit after a Year!!

Long
NSE:IOC   INDIAN OIL CORP
After a year, IOC breaks 3 digits levels, and this time, if it holds resistance at 101 then the coming week target, will be achieved of Rs 116 with stop loss for short-term traders @98.. But if your view long term then no stop loss and also :
1. Last two trading include today- the big volume of trade was executive and last time such volume was there then it gives 10% rally.
2. On 18 may 2021 board meeting and results will be declared. Current scenario good dividend and results will be expected.
Note - It may rally down in the next two sessions due to the current scenario of covid and nifty break support but advise to buy on every dip for a long-term scenario.
Comment: Still holding Support level and not trigger our stop loss for the short term. In this week, share touch 107 level near to resistance and can't hold that level. Next week results are coming also. Let's see share can perform as expected or not. will update after results day.
Comment: Stock rally till 109 and also the good result was declared. The pattern showing its near to resistance level and volume bar is also increased which is a good sign for the share price movement.
Trade closed: target reached: achieve target yesterday @114. So, my long-term target trigger.