IOC : Bullish Shark 20-JAN-2020 (Positional)
IOC : Bullish Shark 20-JAN-2020 (Positional)
CMP: 117.50
Entry : 114-108
Targets : 119,126
Stop loss: 104.10 (Day closing below)
Chart by : Karthikdeva
IOC trade ideas
Indian Oil Corporation (IOC)As per psychological Support & Resistance
Short Term Target= 122-23
Second Target= 129-30
Stop Loss=116-18
Long One can wait for drop up to 117 and reverse on daily time frame in order to Go for buy position
and can look to book near the forecast using trailing exit method
High probability trade Risk 2.5 Rupees Reward 35 rupees Buy at cmp on monday with a strict SL below 121.5
If it turns out to be right you can earn around 1 lakh + on one lot (in futures) however if it's wrong the max loss is 8-10 K
If trading in future buy Feb series future.
Suggestion and criticism is welcomed.
(Ideally as per harmonic trading you should trade this stock once it reaches level of 160 for shorting but i am taking risk by predicting CD leg which may or may not seem right to people)
IOC made bullish divergence on MACD histogram on weekly chartIndian Oil Corporation has given bullish divergence on weekly chart. The depth of histogram (bearish zone) is shallow via a vis previous bottom in price which made earlier.
Average Direction index just moved upward (>20) in weekly chart....Further, on weekly chart stock has taken support between 122-125 in last 3 occasion.
IT seems overall bullish pattern is formed for stock.
IOC Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
IOC VEIW FOR INTRADAY TRADINGThis is my view of IOC based on this chart if its breaks upside then go for a buy as well as if it goes down then it can go for sell with a condition it should be narrow breakout otherwise need to wait for retest.This is for educational purpose only.
H&S or Bounce from SupportEither there will be a sharp downside or the scip will bounce back from triple bottom formation. Watch keenly
Indian Oil- Downtrend AheadA sell from near~136 till 113-115 is upcoming.
Trending Buy with strength shall be from 113-115 level till target shown in chart.
Happy Investing!
IOC Long Rs 134.5NSE:IOC Buy 134.5 or below
Entry 134.5 or below
Target 148.75
SL 130.75
Hold for 8-10 Trading session for the target price.
