IOC chart in a Pullback wave. And it’s Conditional trade it can go to any direction from here.
For Now i am taking it as a Upside Impulse and made a Buying level and their Targets that can see on the Chart.
Always wait for Confirmation by Price close.
1. On Trendline Support
2. Forming a Symmetrical Triangle
3. Can go Long only after Breakout
1. Penant within a Symmetrical triangle is formed
2. Last candle closed below 5, 13 Days Exponential Moving Average
1. FII/FPI have increased holdings from 7.21% to 7.94% in Dec 2021 qtr.
2. Mutual Funds have decreased...
Indian Oil Corporation Ltd - 11.02.2022
The stock is trading @ 122 levels
There is a HAMMER in Weekly Charts
There is a ENGULFING BULL in Daily Charts
There is a DOJI in Hourly Charts
RSI is 53 in Weekly Charts
The prices are at EMA
Let the prices go above 124.60; one can initiate a BUY position with Support @ 117.15
Watch out for the price action
Indian Oil Corp. Ltd is India's flagship national oil company and downstream petroleum major.
Now on near support 121.30 it may retraced as per cup and handle strategy. and go for up to 132 to 135 . also given day breakout on neckline.
Right time to buy.
Feel free to share your feedback and queries.
If you want to know about your...
Cmp - 111
Stop - Nil, Add more on relevant dips
T2 - 140, Review at 140
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
Technicals - ✅, right
Fundamentals - ✅, will follow price
Ideas being shared only for educational purpose
Please do your own research or...
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss...
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...
This zone was resistance where the price was not able to break it at several instances. However, once the price broke and created a new high the stock is retracing to the same resistance zone which can now act as a SUPPORT.
Watch out for IOCL tomorrow.