IOC trade ideas
IOCIOC is still under pressure and may touch down to 60 levels. This will be a very crucial make or break level for IOC based on historical price avtion
Indian Oil | Intraday Short | Strategy | 01-Hour basis | #IOC @ 72.25
This is an interesting study of #IOC chart on 1-hour basis:
- Period : MAY 2020 (12 trading days)
- Observe behaviour of candles in GREY and YELLOW
- On any GREY candle - the high point of one-hour remains higher for the entire day
- So an intraday SELL strategy can be initiated for a gain of maximum average of 2-3 points daily
- For protection a small SL can be placed upon higher level of 1st candle
- SL to be based on one's own capital (it can be 0.25 or 0.50)
- If you see YELLOW candle, this is the only day when TREND reversed
- But there is a SUCCESS on all other 11-days
Jai Hind!!
IOC BUY Above 76 , target 79/82/86 ( Not Intraday ) IOC BUY Above 76 , target 79/82/86 ( Not Intraday )
India Oil Chart Setup & Trade !!TREND ANALYSIS & TRADE SETUP
Wave Analysis & Chart Pattern .
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 8-12 times.
IOC in bull zone -- facing resitance at 77.5IOC had formed a bullish crab pattern in the daily chart. Looks likes facing resistance at 77.5. If cross 77.55 the target is 80 followed by 83. Fingers crossed.
Disclaimer: For educational purpose only. Trade with caution.
IOC had made new 52W Low on Closing basis.It looks more weak as it closed below 52W Low. it may fall further and it has already given poleflag breakout around 78 levels. hoping for oil demand growth, we can set for lesser targets. it may go upto 70. if still not able to reverse it may go upto 62 levels.
IOC INTRADAY Long Long @ 76.6 with target at 79.75 and stoploss at 75.4
Bearish candle at P1 with declining trend
Beginning of a morning Star pattern formation with gap down pin bar showing severe price rejection on P2
RSI reaching close to oversold levels again and price at the edge of bollinger bands
What do you guys think?
IOC CUP & HANDLEA Cup and Handle pattern can be seen on daily and 4hr chart of IOC. Break above the neckline of this can begin a new uptrend.
IOC AGAIN IN CHANNELNSE:IOC
IOC AGAIN IN CHANNEL THE PRICES TO WATCH ARE 74 -95
THE PRICE NEEDS TO BREAK 95 LEVEL TO GET IN TO THE UP TREND
FOR SHORT TIME WE CAN SEE A CORRECTION IN THIS
