Possible Breakout on 6/7/8 Oct 21 130 (SL - 120 | TGT - 148) NSE:IOC
as per chart it looks too good for grab add in small qty, energy sector looks too much promising in last few days. SL 115 for short term and 110 for medium term investors looks good.
This is my personal view on this script. Please consult your financial advisor before going into any trade.
As we mark some trendlines and used some random indicators and in the end we have got the result that it may b give a breakout in bearish side. if it breaks the trend line in bearish side the 1st price target will be 117.60 and 2nd price target will be 117. if the trend breakout moves in bullish side then the 1st price target will be 119.55. but the important...
Cup and handle pattern is formed in IOC daily and weekly time frame chart pattern waits for a clean breakout and then takes a long position. Disclaimer:- This is only for educational purposes please do your own analysis before investing hard-earned money.
Ascending Triangle pattern in Indian Oil Corporation Limited
IOC Cup and Handle Patteren in daily timeframe Breakout above 120
IOC crossing short term resistance. First Target 117
Take no new entry right now. ↳ hold existing positions. → buy above 2480 ↳ short term target 2550
Financial Supports target of 130-150 in mid term. RSI indicating bullish momentum along with MACD also giving bullish signal.
We can see huge upside in the coming days if this line breaks, that what my prediction says. Its been ranging at this range for a long time. If breaks, we can see a 52 week high, just hope that bull market doesn't end.
Looks very bullish it broke a weekly trendline also consolidate after then now broke a daily resistance , good for positional trade
IOCL WEEKLY CHART looks steady n slow rising, with R/R of 1:1 target of 127 can be seen, also this is high dividend paying company can be kept in protfolio for healthy dividend of Rs. 12 per share giving dividend yield of 11%. Views are welcome on this.
IOC has a breakout form the pattern .It is good to short now the target is kind of good and the stoploss is also not bad. So take a short position in IOC to make handsome profit and don't forget to place the stoploss.
As nifty energy is at support one can see a similar pattern in IOC too and right now it's in consolidation too. Risk reward is very favourable with a stop loss of 102 on a closing basis.