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INDIAN OIL CORPORATION LTD.INDIAN OIL CORPORATION LTD.INDIAN OIL CORPORATION LTD.

INDIAN OIL CORPORATION LTD.

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IOC trade ideas

Gain 10% in IOC after this video - MULTI TIME FRAME analysisWhat I see in IOC Would love to share my views with you all : _ I see that the price was getting rejected from the same trendline on weekly basis for quite a while now and recently broken with 4 bullish green candles on W charts _ I see that the zone of 102 to 106 is a strong supply-demand conversion zone, which means it can sometimes work as demand and sometimes supply zones _ For now it has broken that supply zone and gone up by 17%, now it is retracing its move, for that we have fibo tool to understand where it is in terms of retracement _ I see that the price resides on 0.3 fib retracements and also on supply-demand conversion zone of 105 levels which will act as demand/support for the price _ I also see that in 1hr time frame it is making a good trendline which needs a breakout _ A breakout as depicted in the video if given then it might boom for 113 levels and 117 levels Trade levels : Breakout of small trendline needed above the 107 marks ( on 1hr TF ) SL should be self kept as its a self-owned thing ( I might keep it below the swing ) Targets should be set at least larger than the SL and logical too ( 113 is good resistance and 117 is near term high ) ___ Have a nice trading-day :) ___
NSE:IOCLong
by Averoy_Apoorv_Analysis
15