Retracement from Fib Level 0.5 Previous Resistance acting as a support Good volume back on Triangle Pattern breakout MacD turning bullish Stay long till it holds 102 Tgts 117/124
My point of view is to buy NSE:IOC Its an opportunity one can look for. Please look to the chart for detail analysis.
IOC have had breakdown on 1 hour time frame and has the possibility to reach the demand zone of the channel pattern which it has been trading on a longer timeline. Stop loss can be the previous swing high, with an interesting risk reward ration
IOC has retraced 50% and at resistance became support level. Can long on reversal near 100-105 for 120-130-140 with SL 90.
IOC will up by 50% wait for Breakout.
IOC Overview - Priceaction Analysis - Breakout & Retest ( Resistance become Support )
BASED ON THE THEORY IOCL WILL RE TEST ITS ALL TIME HIGH ONCE AGAIN
Breakout of long term Resistance trendline. With Good Volume amount. Good to Buy on my POV for Tgt of ₹ 120. On 1 Hour Time frame already have 50-200 moving average crossover and good support on daily time frame also.
One can go bullish on IOC from here. (for educational purpose only)
its a double top pattern with Support and resistance in uptrend
ioc chart analysis for intraday and swing trading
Daily MACD Cut may come on upcoming days and weekly indicators are positive. In Weekly Ichimoku chart, Price took support on conversion line and Conversion line above the base line. Lagging span above the day close. Once it coming out of the cloud, price may zoom up further. Weekly MACD crossover may happen on upcoming months. These parameters may help to reach...
Buy bhel for a target 80 short term. Stock under consolidation. Expect breakout soon. Those who have must hold on.