bbrijesh

Oil India - Ready for rally

Long
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

Comments

Yes, it finally breaks above 425 levels and looking positive. Now it shall reach to 130 levels. Thanks for updating, Regards
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