As I observe on technical charts I found IOC is strong relatively to Nifty. IOC gives good result in June 2017 quarter and outperform in market.
During Technical Analysis I found that Nifty got -2.60% correction from 2 August 2017 to 10 August 2017, where IOC show strength with 10.86% up in same duration.
I sure this stock gives good return in short time and...
IOC Outlook: IOC trading on very crucial support area 360-364 also taking support of 200D EMA, Currently stock trending on downward for last two months so now stock trend on a decision either it will continued towards downward or reverse back from 360 support area.
So now two trading strategies can be applied as per support and resistance methodology :
One if it...
Targets : 400-420-435 Buy range : 370-380 Stoploss : 350 Duration : 4-5 weeks
Attached weekly chart of Indian Oil Corporation, a participant from a refinery sector, is implying that the stock is about to pull off from its major support zones.
Stock’s seems to be finishing its groundwork at or near levels of 360-370 on the basis of...
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...