OIL trade ideas
Swing Opportunity in Oil IndiaGo Long above 208.7 for Targets of 227.4, 246.1, and 264.8 with SL 190
Reasons to go Long :
1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
4. In addition to this the stock gave Trendline breakout.
Swing Opportunity in Oil IndiaGo Long above 228.55 for Targets of 242.1, and 255.65 with SL 215
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Oil India breakout and RestestAfter a breakout of Oil India
Some people booking profits
Now second chance for those who missed to ride the breakout now its retesting previous Resistance became Support now and confirmation candle is now also Fibbonaci support here its good time to catch this.
SL below last swing and risk reward ratio is 1:2
🙏Note :- this is my Analysis don't take it as buy or sell recommendation
😊Invest at your own risk.
OIL India add to watch listOIL India add to watch list and look for opportunity once it breaks the triangle pattern with good volume.
OIL can be good positional/swing trade, monthly BreakoutHello traders,
OIL gave channel breakout and multi-year resistance breakout on monthly chart.
can take entry at cmp.
details given in the chart.
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Aniket.
keep learning and keep earning.
no surity only probability no view only review chartno view only reviewing chart pattern
on monthly chart as long term.
all time frame overbought rsi.
only reviewing . no view.
decide on ur own.
OIL 56% Gain in two Months, Public Sector CompanyNSE:OIL has given 56% Gain in Two Months,
It was shared with following details on Aug 6 2021
2021.09.02
#CALL #MEDIUMTERM #NIFTYLARGECAP
Stock : #OIL
Buy Option 1 : Buy @ 178 to 178 (Low Risk)
Buy Option 2 : Buy @ 157 to 160 (Low Risk)
Stop Loss :
Option 1 10%
Option 2 : As per your risk profile.
Option 3 : Below 151 ON weekly CLOSING BASIS
Target 1 : 190,207
Risk : Medium
Duration : 1 to 4 Months.
oil break out on weekly chart oil india is on break out on weekly parrallel channel after a 6+ years of time frame ,retest between 175-180 possible which is best entry level for target of 260
Oil India Range BO And H&S BOOil India - Closing Price - 182
SL - 150 (Weekly Closing Basis)
Target - 220/245/285
I have taken long position on OILI took trade-in OIL on 17th Sept 2021. My entry was near 197.60 as (197.60 to190) is a demand zone for this stock. Given the current global scenario, I am a bit worried, but as a trader, emotion is the first thing you should have control over.
My entry-197.60
My Stop loss- 190
My 1st target- 205 (1:1)
My 2nd Target- 213 (1:2)
Please note that: Once my 1:1 is hit, I trail my Sl to my entry point.
I will update once Sl or Target is hit.
WARNING: THESE ARE MY PERSONAL VIEWS AND NOT TRADING RECOMMENDATIONS, I AM NOT RESPONSIBLE FOR ANY LOSS TAKEN ON MY VIEWS.
Channel pattern breakoutIn weekly time fram u can see channel patter breakout
Volume also good
Wait for one red candle in weekly time frame and then enter (and if it sustain above trend line)
OIL vs ONGCOIL vs ONGC (both PSE) is at ATH ratio is @ 1.6, 1.5-1.6 is resistance zone/ reversal zone & near 1 is support
pennant pattern near 52 week high -OILtrading near 52 weeks high
forming pennant pattern (bullish)
buy above or after sustain above168.5 level
Oil - uptrend continuing - after a brief breakOil has started it uptrend again after a short break. Uptrend confirmed after weekly CPR breakout .
OIL INDIA CHART LOOKS GOOD !!ITS A CUP & HANDLE PATTERN BREAKOUT..
OIL INDIA LTD
CMP 173
TGT 187/208/231 ++
SL 168
Stock is trading at 0.79 times its book value
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 26.61%.
BEST STOCK FOR LONG TERM !!
Oil india long positionOil india is trying to break upper side and the nearest resistance level is at 159.
