Cup and handle pattern is formed in IOC daily and weekly time frame chart pattern waits for a clean breakout and then takes a long position. Disclaimer:- This is only for educational purposes please do your own analysis before investing hard-earned money.
Ascending Triangle pattern in Indian Oil Corporation Limited
IOC Cup and Handle Patteren in daily timeframe Breakout above 120
In IOC Cup with Handle pattern formation completed we have to wait for breakout.
Stock is trying to sustain above its supply zone. Likely to move towards next zone around 127 and then an eventual move towards 146
IOC breakout may happen this week. A good risk reward ratio.
Cup and Handle formation in IOC on daily time frame. Lets wait for the break out
IOC crossing short term resistance. First Target 117
IOC SHORT LEVELS MENTIONED IN CHART Disclaimer: This is just for learning purpose
Intraday Positions at trend Channel Momentum and Trend in the Positive
Today Intraday trade stock touch -2% today. Upcoming days hold positional trade for target 113.
Simple Technical explanation! Price near previous peak support along with RSI testing oversold level. Expecting a bounce in prices to end expiry above 110!
Ioc created successfully cup and in upcoming session it will be create a Handle of the pattern. Now can be short for a few sessions, after it will move up side.
Ioc broked weekly resistance in daiy TF if weekly cloi above 119/- then 1st target 169/- 2 nd 151/- then can go further 200/-
Weekly breakout is about to happen. There is potential upside breakout on weekly chart
IOC long view for 3 months with stop loss of 80 and target - 150