Indian Oil Corporation LtdIOC looks like a strong buy right now. It's got that cup and handle breakout, lots of trading volume, and good moving averages. If it stays above 155 with good volume, we could see it hit 170 soon. Keep 145 as a stop-loss.
Ioctechnicalanalysis
IOC cmp 137.86 by Daily Chart viewIOC cmp 137.86 by Daily Chart view
- Support Zone 111 to 117 Price Band
- Resistance Zone 141 to 146 Price Band
- Heavy Volumes spike been in sync with avg traded quantity
- Falling Resistance Trendlines Breakout forthcoming to persist
- Stock was stuck in price range 155 to 186 over 8+ months before making breakdown
- Bullish Rounding Bottom with faintly considerate Head & Shoulder or Cup & Handle as one may view to infer interpret seem in place
