OIL trade ideas
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.
OIL- Weekly Chart Long PositionOil india broke a weekly trend and after consolidation it can go uptill 148-155
Buy Oil @ 128-130
SL- @ 118
Take Profit @ 148-155
breakout expecting a bo,
can go to 140 ++ if sustains
can put an sl blw months low
for study purposes
positional
Oil - Small things to watchout for.Support turning resistance is the first point of this chart.
Tried connecting a small Trendline which actually look like a small triangle on chart.
Some thing that is interesting is that price already tried to go down below 200 EMA but buyers pushed it back up.
Now volumes are increasing slowly.
I have marked 2 targets:-
Green one is smaller target and will require less time as per my view.
Blue one is bigger target that requires patience to hold for some time.
One thing i request everyone that please please do not take premature entries in fear of missing out. These red lines are plotted some reason they are not for looking fancy. So enter only and only once prices closes or looks like closing above the red lines.
Cheers & Happy Trading.
Disclaimer:- I am not SEBI registered. Trade with your own risk and trade with caution.All the levels plotted are only for educational purposes.
#oil India #positional Oil India is a good bet for short term. Good results in February and dividend declaring in next month can make positive(expecting).current dividend yield 9+%. Will reach precovid levels. 140+
