bbrijesh

Oil India - Ready for rally

Long
bbrijesh Updated   
NSE:OIL   OIL INDIA LTD
An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI ( Relative Strength Index ), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
Comment:
Stock hits fresh 52 week high @ 446.20

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