IOC on the weekly time frame seems to be at a prefect place for buying. The stock has given a break out of the parallel channel and is holding on the upper levels.
A nice bullish moving average crossover is there on the weekly charts, which indicates the bullishness the stock can show in coming weeks.
Stock holded the 20 ema after the break out of the moving...
IOC @ Resistance level
Buy above 73.20
Go for long once 74 crossed.
Now IOC recovery from low. Taking reversal
Next target 74.50, 75.50,77.85
Thank you
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
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
SL- 110
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...
