The wave finding on oil downtrade.I have applied elliott wave theory on oil to study corrective mode. Specifically, the 12345 motive mode has been completely over and now rate is under the correction mode. I am looking for downward movement shortly.
OIL trade ideas
Oil India ready for the uptrend!🤩💸🔥Buy Oil India for Positional Trading as well as Investment.💸🔥💸
Comment your views‼️😄
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💡About Company:
Oil India Ltd is engaged in exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. It also provides various E&P related services for oil blocks.
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💡Revenue Breakup:
Presently, the sale of crude oil accounts for ~76% of revenues, followed by Natural Gas (18%), transportation (pipeline) (~3%) and others (3%).
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✔️ Technically & Fundamentally Strong💪💪
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‼️ The stock had given a multi-year breakout in September 2021 and then it was in a retracement phase. Now with the completion of the retracement which is evident by the Higher high and Higher low formation, we can expect a strong uptrend from current levels.
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💎@technofunda_trader
Few Important rules from my Trading Philosophy:
1. Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-10% in any stock & more than 25% in any particular or related sector. If stock is risky don't invest more than 2-3%.
4. Build position gradually as the stock rises.
5. Trade in the direction of the bigger trend.
6. Ride the trend, don't sell your winners early.
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Like, Comment & Share 😄😄😄
oil india watchlist oil india has been forming descending triangle and broke the triangle pattern and trying to break the upper support
and crossing 50 dema
having good rsi levels 62 and also forming ascending triangle
trade with caution
#dyor
Hello again here with a new idea on oil ltd.Yesterday oil india limited gave a channel breakout with a huge voloume . One more thing is that in previous three candles it is making a pattern of morning star . So I will be bullish on this stock if it gave a confirmation on monday else i will be entering in it on wednesday. This is my own research do yours as well and its my opinion and should not be taken as tip. Thanks follow for more.
A fake breakout in oil We clearly seen an resistance area from many days and yesterday breaks with gap up but i cant sustain. So we will looking for short after fake breakout.
Flag Pattern Break Out in Oil India Ltd.Date : 11-Jan-2022
Rating : Buy
LTP : Rs. 213
Target: Rs. 248-->266
SL : Follow the trailing SL indicated by the moving averages.
Oil India Ltd. broke out from the Flag pattern at current secondary trend with higher volume. 7D EMA has crossed over 13D and 26D EMA. MACD has crossed over to buy zone. RSI is above 50 level and had created a positive divergence, suggesting the up trend from here.
Disclaimer : Investing in stock market is very risky. One should do a self analysis and validation before investing in stock market.
OIL India showing strengthOIL India Showing strength
1. Double bottom at demand zone
2. Trendline Breakout and retest
3. Marubozu candle after retest
4. Volumes High
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)
