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Indianoilcorp

IOC brilliant chart for medium termMultiple things to note on this chart. 1. The stock formed a good base at 71-72 levels. Tested twice and the levels acted as a good support. In the chart this is indicated by the black line drawn at support. 2. The stock then formed higher highs and higher lows indicating that the stock is in an uptrend. This happened for almost 6-7 weeks. 3. Now, historical data shows that the support had previously taken very strong support at 83-84 levels. It tried to break these levels on almost 4 occasions (weeks) but failed. Also, we know that a support line then acts like a resistance. Indicated by red trendline. Can it break this resistance of 83-84 levels this coming week? Some of you might say that it has already broken the resistance on weekly close but the volumes don't look convincing to me so I would wait for another session and see how the formations are on a daily chart. Trade idea: If the resistance is decisively broken, go long in IOC with levels up to 90 (first) and 96 (second) as Targets. Please look at the "related idea". I had given an idea on IOC and that was very successful. Please give me a like and follow. Cheers!
NSE:IOCLong
by sankatradesindia
IOC LongI hope you can now see how IOC represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Thank You Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:IOCLong
by EntryandExit
Indian Oil | Intraday Short | Strategy | 01-Hour basis | #IOC @ 72.25 This is an interesting study of #IOC chart on 1-hour basis: - Period : MAY 2020 (12 trading days) - Observe behaviour of candles in GREY and YELLOW - On any GREY candle - the high point of one-hour remains higher for the entire day - So an intraday SELL strategy can be initiated for a gain of maximum average of 2-3 points daily - For protection a small SL can be placed upon higher level of 1st candle - SL to be based on one's own capital (it can be 0.25 or 0.50) - If you see YELLOW candle, this is the only day when TREND reversed - But there is a SUCCESS on all other 11-days Jai Hind!!
NSE:IOCShort
by stockyindiaa
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