OIL INDIA LTDLong
OIL INDIA POSITIONAL BREAKOUT TRADE
Updated
Hello Guys, Today there is a positional trade idea I'm sharing with you in OIL India Ltd. as you see the blue line it is a multi year support since the listing of the share from 2009-2014 (for almost five year) and after that it acts as a resistance for almost six years. So, it is a very crucial point that the stock is at breakout at the blue line if it consolidate & breaks it out and make it a support line again then we should go long in the position shown in the chart. We have the following confirmations i.e,
The 50 SMA crossing above the 200 SMA its a sign of bullish crossover
MACD is also showing the formation of bullish crossover
{Disclaimer: I'm just sharing my views you can take it do your analysis and make your positions accordingly to your risk.}
The 50 SMA crossing above the 200 SMA its a sign of bullish crossover
MACD is also showing the formation of bullish crossover
{Disclaimer: I'm just sharing my views you can take it do your analysis and make your positions accordingly to your risk.}
Note
Guys Trade is not Active yet Once it is closed above the multi year support line and take support their then only we will enter into this tradeTrade active
Guys breakout is done and the trade is active now'Trade closed: target reached
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