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.}
Comment:
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 trade
Trade active:
Guys breakout is done and the trade is active now'
Trade closed: target reached