INDIAN OVERSEAS BK

NSE:​IOB

Looking to Go long on reversal near the levels for New Bull trend

Gapup Volume Support CCI-S to CCi-B in 5 days shows interest Target 28 / 33 SL 22.15

Everything explained on the chart...

IOB has probably bottomed out with a support at 20.50 - 22.50 ... and according to my observations technicals show a positive divergence on RSI & MACD (5/8/3) .. Stock might move up to its resistance at 32 and from there breakout possibility ... T1 24.50 T2 26.80 T3 29.00 SL 21 Discl : its my 1st published idea so please help me with your feedback .. thanks

The stock is facing some Fundamental issue but for sure the stock will bounce once they brake the down trend channel low and it will move like a Rocket , i think the risk to reward would be very good , The issue with Fundamental will be ultimately resolved after the completion of the stock accumulation , so keeping an eye on this would be Good Regards

The only bank was under performing years together. Now breaking with all banks. IOB can be bought now for target of 33, 34, 35. SL - 30.

For a year, the stock has been trying to break out the current resistance umpteen times. Yesterday huge volumes were witnessed with a positive indication on MACD & RSI. Buy above 29 SL - 28.35 Tgt1 - 32 ( 10 % ) Please provide your valuable feedback which would help me improve my ideas each time.