OIL INDIA LTD- ASCENDING TRIANGLEOIL creat ascending triangle pattern and now perfectly breakout with huge volume so Buy stock here with sl of 264 target 281 in cash.
OIL trade ideas
OIL IGL ComboOIL IGL Combo
OIL: Technically OverSOLD
& 0.618 Fib Retracement.
LONG OIL: LTP @ 293.4
More : @ 287-
TGT:
@ 299.2, @ 305.3, @ 312.2, @ 318.4 , @ 325, @ 332+
Sl: @ 280- (by Closing)
IGL: Technically OVERBOUGHT
& made recent HIGH at 1.618 Fib Extension
SHORT IGL: LTP @ 1097.5
More: @ 1111+
TGT:
1082, @ 1074, @ 1067, @ 1060 (BOUNCE Zone), @ 1050, @ 1038 , @ 1022-
SL: @ 1135+ (By Closing)
PS: ALL LEVELS ARE FUTURE PRICE BASIS.
is OIL slipping into the hands of bears???stock is trading inside a narrow range from feb.
in verge of break down from that range
chances of a pull back is not ruled out
hence sell below the sideways channel (closing price)
for targets towards 316/313/309
Earn while Learn Complex Head & Shoulder TOP patternOIL is a beautiful example for the aforesaid pattern except its up-sloping Neckline as pattern with near Horizontal Neckline performs better. The pattern looks like normal head-and-shoulders except either with multiple shoulders or multiple heads but rarely both. It performs better than normal Head & Shoulder and trading rules are the same.
OIL INDIAHi Guys,
Daily chart of BSE:OIL ,wait for the testing of upper trend line if it holds its time to sell.
Bibin
Wolfe Wave Divergence SHORT !Beautiful Wolfe wave trade with good Risk to Reward ratio may give a good start for the NEW YEAR 2017 for my trading mates. Wishing you all to be prosperous.
OIL India Getting TiredAfter running a marathon from lows of 300 Levels to its 200 Daily EMA, Oil India showing signs of some tiredness at upper levels.
For me the setup is optimum for a short trade in Futures, Writing 450 call option or Buying a Put. Well take your bet as per risk.
Target for coming week should be 412 . But since its a expiry week be bit vigilant and alert.
CMP- 437.50
Target 412
SL- 453
short the stockas we can see the bearish engulfing pattern there and a couple of doji there signifying greater indecision in the market and bearish divergence there and the market is too overextended
EDUCATIONAL PURPOSERising wage in a rising market with RSI divergence now i m filling bearish in OIL INDIA .
Oil India - Ready for rallyAn inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
oil india outlook aheadInternationally crude oil seems to touch 70 usd dollars in coming days.so i am betting on surging crude beneficiary.
OIL INDIA LTD. STEADY RISE WILL CONTINE....OIL After a prolong decline it's rising very steadily. It's facing some resistance at current price level 418 to 422. Once it closed above 422 it will be will heading towards 452 to 455 and Further 485 to 500 levels without any hurdle.
LONG OIL ABOVE 422. MY STOPLOSS IS 380 on Closing basis. Aiming for Target 485-500 & 670.
I am Very bullish on Oil and Due to my Biased view I Desire that oil will firmly rise to 670 Levels over a Year form now.
*WE SHOULD NEVER TRADE BASED ON VIEW OR DESIRE OR WISH. THERE IS ALWAYS A PR-DEFINE STOPLOSS THAT WE MUST FOLLOW WHILE TRADING.
"Where you want to be is always in Control, Never Wishing, Always Trading, and Always, first and foremost protecting your butt"
-Paul Tudor Jones
