As we can see OIL has given break-out from Cup&handle pattern Its 8 day delivery average is 53%. As well as today's open interest change in around 3.69% which show large numbers of long positions. MACD is positive. Considering all the facts and numbers one can take long positions for this series TGT:310-330 SL:280
Please take note I am not SEBI registered adviser and this is my personal view please consult your adviser befor investing