Oil India Pullback Swing TradeNSE:OIL looking good for Pullback Swing Trade, giving pullback from election day lows and closing above 10 DSMA.
About:
NSE:OIL is engaged in the exploration, development, and production of crude oil and natural gas, as well as the transportation of crude oil and production of LPG. It also provides various E&P-related services for oil blocks.
F&O Activity:
Significant Long Buildup With 400 PE OI Addition Significantly.
Trade Setup:
Looks good for a 1:1.7 Risk-Reward Trade with 10 DSMA Trending Upward, Pullback up to 200 DSMA looks likely, and 10 DSMA and Recent Base are Important Levels.
Target(Take Profit):
Near 200 DSMA for Swing Trader
Stop Loss:
Recent Base or Trailing 10 DSMA on Closing Basis for Swing Trader.
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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
