Entered on 02 August 18 on 15.15 with a stop loss at 14.70
TSL update on 09 August 18 from 14.70 to 15.05
TSL update on 20 August 18 from 15.05 to 15.20
Current Trailing Stop loss = 15.20
In case of hitting stop loss confirmed profit of 0.05 points.
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
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.
Indian Overseas Bank engages in the provision of commercial banking services. It operates through the following segments: Treasury, Corporate or Wholesale Banking, Retail Banking, and Other Banking Operations. The company was founded by Muttaiya Chidambaram Chettiar on February 10, 1937 and is headquartered in Chennai, India.
IOB
