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.
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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.
1. Bullish market structure - HH, HL
2. Volume expansion
3. Coming out of the accumulation
4. Approaching major resistance zone 115-122
5. Positions can be added between 100-115
6. Close above 122 will trigger a rally to 160
7. Target: 155, 186, 228. Stop Loss: 85
8. Time frame: 15-18 months
You are always advised to use an appropriate...
Here is the detail analysis of ONGC . Its a buy candidate . Stock is ready for uptrend after the multi year resistance has been taken our. We are just using ripple to enter early.
Buy - Above 124
Target - 138 150 160 175
Duration- 6 months and above
But Swing Traders can take advantage by catching the early targets mentioned.
Note:- I am not SEBI...