Oil India - Levels to watch
As we have seen stock respecting demand and supply zone most numbers of times
Currently stock is stuck between a strong demand and supply zone
Also it has been trending in a lower channel
As of now we have a high area of confluence where supply zone meets the upper channel
It can most probably act as resistance
Downside we have a demand zone too
So area of resistance becomes 448 - 450
Area of support becomes 395 - 400
As of now at the current price, it can also be a good straddle candidate
Or can wait to reach any side edge to trade
Currently stock is stuck between a strong demand and supply zone
Also it has been trending in a lower channel
As of now we have a high area of confluence where supply zone meets the upper channel
It can most probably act as resistance
Downside we have a demand zone too
So area of resistance becomes 448 - 450
Area of support becomes 395 - 400
As of now at the current price, it can also be a good straddle candidate
Or can wait to reach any side edge to trade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.