As per daily chart we can see the waves formations and it has completed 1 2 3 4 5 and A wave, for Intraday or a week you can take buy position near support zone to complete B wave as a target, but as per my view, we should avoid long at present stage and wait to complete the C and think that time.
Price action is nearing its support 363 - 367. On breaking the support price will move towards 352. If the price took support at 363 - 367 level, after getting the comfirmation of breaking the downward trend line, we can go long for the targets 387 and 398.
On 29 June 2017, when stock was at trading at 389, the importance of 397-405 was highlighted. On any rise rejection in the said zone will increase the probability of further downside movement towards 368-363 zone...
IOC: LTP @ 383
CUP Completed, Possibility or Probability of HANDLE or NEW HIGH ?
Consolidating at FIB Retrracement 0.786 (approx)
Technical Parameters both Indicators & Oscillators Suggesting Up Move.
In ICHIMOKU : KIJUN-SEN , U-Turn (From Downward to Flat)
Vol: LESS Than AVG.
CRUDE Consolidating. Possible DN side of Crude, means Profitability Increases.
Observations from the chart
- Made High of 404 on 7-Feb-2017
- Took that level out with a strong gap up (from 397 to 405) on 7-April-2017)
- Trading below 405 after almost 3 1/2 months
- Also Broken trend line now
-20 day EMA & 50 day EMA crossover observed after a very long time
Any rise towards 397-405 needs...
IOC is in uptrend forming a series of higher highs and higher lows. Presently it is in correction taking support at a 6 month long trendline and also at a previous resistance zone. For traders who are conservative in their approach can look for a green candle formation or can even wait for a break of yesterday s high, whichever way they feel comfortable.
IOC is ready for a sharp move in the coming week . These are the reasons
1. It has corrected exactly 38.2% (green panel) the rally i(350) to v (448) .
2. It has completed W-X-Y structure . So either this can morph into w-x-y-x-z structure . So we can either expect an X wave or an umpulse .
3. W : Y is 1:1 (not shown) .
4. It perfectly fits the corrective trend...
BUYing in this zone has a potential to reach 454, then upto 500 levels.
A bullish breakout has happened as expected. You can have a look at my previous post.
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Comments are Welcome.
Break of the trend line above and close , BUY
Break of the trend line below, NO BUYs
I will be looking closely at how price develops at this area.
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Hi All ,
Everything on chart. Minimum Target 435
No Naked Futures / Calls
3 strategy :
Buy April futures , Buy April 420 PUT
Buy April 420 calls , Sell april 440 or 430 calls
Buy April 420 calls 2 lots , Buy april 420 put 1 lot (Put /call combination as per ur chooice).
Note : Consult your financial adviser before investing ,...