Oil
Look for a rally in Crude Horizontal line drawn basis hourly closing prices. Crude should be headed higher
WAVE C SETUP - WTI CRUDE OILVIEW:
Crude oil appears to be ripe for down move...
Structure/Pattern:
Impulse + correction ==> Impulse ==> wave c/wave 3?
#SUPPETRO #OIL #BANKNIFTY #NIFTY #TRADING #COVID19 #RELIANCE #IT#SUPPETRO
CMP: 459.25
Target: 577++
NSE:SUPPETRO
Can hold after the target!
Strongly bullish.
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Might blast to more than 577++
Super Bullish on this stock.
From Rachit Sethia with 💚
INDIAN OIL CORPORATION IOC BUYIOC April expiry will end with 52 week high.
ioc uptrend. Expected 114 by month end. Exit positions after 110.
Covid lock down will not begin till completion of election.
Strong recovery possibleSome recovery seen post the crude oil inventory. The supports seen over the last two days seems to be fueling some upside. Repeated attempt to breach supports have proved futile. Now the pus to the upside is indicating possibilities of some rise in store.
Kriti Nutrients: Rising Edible Oil prices augurs well!1. Kriti Nutrients is a manufacturer of Soya value-added products, used in the pharmaceutical application, food and edible refined oil. Market cap - 191 cr; PE 9.52; EPS - 4.17.
2. Atul Singh ASAN's pick. Spotted by him first and excellent study by him on twitter.
3. Company doing sales ~600Cr.
4. Return on Equity at 25% and Return on Capital Employed 27%.
5. Since edible oil prices are soaring and will continue to increase this entire year well into December 2021, this stock is a sureshot multibagger 3x-5x for sure!
Crude Oil Short ViewCrude Oil is likely to find resistance near 4500 - 4520
As shown in the chart it is currently trading in a downward sloping channel.
Till the time it is trading below 4620 there is a good chance we can achieve a target of 4100
Brent oil drops from 21-DEMA as EverGiven refloats in Suez CanalEver Given’s refloat in Suez Canal opened the one-week-old blockage in the busy global route during early Monday. The move not only helped market sentiment but also weighed on the oil prices and dragged Brent Oil from 21-day EMA. Given the fundamental reason and the commodity’s repeated failures to cross the key EMA, the quote is likely to revisit the 61.8% Fibonacci retracement level around $61.15. However, any further downside will be tamed by the monthly low of $60.44 and the $60.00 psychological magnet.
Meanwhile, an upside clearance of a 21-day EMA level of $64.85 can trigger the oil benchmark’s recovery moves towards the one-month-old horizontal resistance around $67.45-50. It should, however, be noted that a sustained rise past-$67.50 will propel Brent oil towards the mid-March top near $70.50 before directing oil bulls to the monthly peak of $72.00.
Indian Oil - Triple Top Breakdown ??Indian Oil Corporation has formed triple top and now tested the support zone thrice in last 4 months.
If stock breaks 90 then aim for targets of 88.25, 87.50 & 84.50 next week
On the other hand if stock bounces from support and breaks 92.50 then aim 94.70, 96.70 and 97.50 in next wekk
P.S. --- This stock is not good for Intraday so consider only swing
