OIL (Oil India Limited) SELL BELOW 173.75
short sell view for a BIG panic
It's seems WTI Crude Oil making it's bottom following nice positive volume after so long.
OIL (Oil India Limited) #BUY ABOVE 178.3
as we can see a strong support zone is already hit ,surely will be a correction. oil companies can have negative impact on oil price rise.
Long OIL in cash as per datanalysis and crudeoil pattern
BRENT CRUDE LIKELY TO HIT USD 29 LEVELS
ONGC was sold on NSE with 5x more volumes than average. SELL ONGC at 151.5 with Stop-loss of 157 and Target of 139
1) Facing resistance at trendline 2) oil prices crossed crucial level of 80$, likely to got to 90-100$ 3)Made bearish candle at resistance with high volume
Bullish sings, go ahead and buy it, could go upto 180 in coming weeks.
1) Listing of ONGC Videsh on foreign exchange will reprice the stock 2) Iran sanctions coming up in Nov 2018 ; which shall increase global crude price 3) Stock has been undervalued for long time because of HPCL takeover and possibility of govt levying oil subsidy 4) stock has broke 5 months trendline with good volumes5 SL -170 Risk reward ratio looks favorable