IOCL - Investment Doubler - MultiTimeframe Analysis
**📊 Indian Oil Corporation (IOC) - Technical Analysis**
#Multiple timeframe analysis showing IOC at a critical juncture around ₹136-163 levels.
Key Observations:
- On an Yearly Chart, Prev Yearly candle attempt failed to do Breakout.
- On Half-yearly chart breakout confirmed and the stock retraced and bouncing back to Key Levels.
- On an Yearly chart the Previous leg which attempted to break Previous ATH has strong #Momentum - The Stock Bounce back on Major Demand Zone, signs of retracement complete.
- Current price: 163.67
- Multiple "Buy on Dips" opportunities identified across timeframes
- 2017 highs acting as reference resistance levels
- Target levels marked: Tgt 1 196.80, Tgt 2 220, Tgt 3 250, Tgt 4 280
- Conservative stop-loss suggested on candle closing basis (short-term)
Trading Strategy:
- Swing trading approach recommended
- #Investment Doubler potential noted on long-term chart
- Expecting 2017 yearly breakout on extended timeframe
DISCLAIMER:
This is for educational and informational purposes only. This is NOT investment advice. Trading and investing in stocks involves substantial risk of loss. Always conduct your own research and consult with a certified financial advisor before making any investment decisions. Past performance does not guarantee future results. The author/analyst is not responsible for any losses incurred from trading decisions based on this analysis.
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💡 Remember: Trade at your own risk. Risk management is key to successful trading!
Long
