IOC at near previous resistance =102 also near senkou B support ichimoku study also near 50% fib retracement very high R:R setup Sl below= 103 on closing basis Tgt=108 n more similar pattern in BPCL trade at your own discretion
SL, Target1 and Target 2 are shown in the figure.
Q result- 3 fold raise. analysis on chart. COmment ur view for my improvement.
Buy Above Green Line closing basis above 110.50 tgt 117-120-130++ Keep Sl of 105.35 closing basis Happy Trading
SL compulsory In daily time frame, the candle formation indicates the weak bearishness and in wkly, it is showing breakout pull back zone. Duration : 3 months SL compulsory
High chances that stock may reverse from current levels for a new Higher High. Enter at CMP with SL below 100 for target 120/125.
IOC has retraced 50% and at resistance became support level. Can long on reversal near 100-105 for 120-130-140 with SL 90.
This zone was resistance where the price was not able to break it at several instances. However, once the price broke and created a new high the stock is retracing to the same resistance zone which can now act as a SUPPORT. Watch out for IOCL tomorrow.
IOC will up by 50% wait for Breakout.
If it pases that channel then short there but with a stoploss coz we are in uptrend and we know that increase in prices and taxes of fuel will be having strong Q1 results. So jf this price crack doesn't happen then buy for the upside 🤑.
IOC Overview - Priceaction Analysis - Breakout & Retest ( Resistance become Support )
What I see in IOC Would love to share my views with you all : _ I see that the price was getting rejected from the same trendline on weekly basis for quite a while now and recently broken with 4 bullish green candles on W charts _ I see that the zone of 102 to 106 is a strong supply-demand conversion zone, which means it can sometimes work as demand and...
IOC chart is now near the support zone (previous resistance should now act as support). This chart is only for educational purpose and is based only on price action.
BASED ON THE THEORY IOCL WILL RE TEST ITS ALL TIME HIGH ONCE AGAIN
Buying August Futures at CMP and Buying ATM PUT to hedge the positions. Expecting target of 126+
GOOD SWING OPPORTUNITY COMING IN IOC ON HIGHER TIME FRAME RISK REWARD 1:4 DO YOUR OWN ANLYSIS BEFORE PLACING THE TRADE KEEP BOOKING PROFIT ON RALLY AND ADDINNG POSITIONS ON PULL BACKS\ KEEP TRAILING STOPLOSS