IOC has given a long term Triangle breakout with HEAVY BUYING VOLUME. Good opportunity to invest for Medium to Long term. LTP: Rs 102 Target: 155/170/230 in 6-12 months SL: Rs 90
Present price 100.50 MAY shoot upto 125 in 5 months.
Important levels are marked on the chart along with the trade Setup. Please Note : There are some minor deviations off the exact 0.618 and 1.272 Fibonacci extensions on A and C, and B and D respectively. I'll shortly update this analysis for the upcoming short trade, once this works best. Follow For More <3
IOC on hourly charts shows an uptrend tested 3 times. If breaks 96 one could look out for potential positions. Similarly if breaks 92 a similar downlook can be expected.
BSE:IOC Entry 88 Target 122 SL 78 Indian Oil Corporation is trading at demand zone which is strongly supported by monthly zone also. Long in equity cash segment, buy and hold equity for long term duration of 6 Months.
TREND ANALYSIS & TRADE SETUP Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX. Wait for entry setup, if available then Long/short. R:R is 3-5 times.
Buy above 195, when will enterthe ascending fan spectrum. Bullish above 225.
IOCL is in an uptrending channel and the price is near channel bottom. If feel it can be bought at 397 with stop loss of 367 and target of 450 and above.
It is been observed on the daily chart that the price action firstly breaks out from a big downward or zig zag consolidation and then again consolidated in a small triangle formation and now it breaks out from that too, indicating a strong bullish move ahead. Target 1: 400 Target 2: 410 Stoploss: 380