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OIL INDIA LTD | SELL BELOW 199
Long OIL in cash as per datanalysis and crudeoil pattern
Long term trends indicate that the stock may move up while short term trends disagree.
Now in the transistion zone. Lets see where it pans out.
Will depend a lot on oil prices in the market.
Watch the triangle!
What is your call on Oil India?
OIL Doji at S/R zone
IOC inside bar + looks like it is going back to the channel,
buy if PDH is broken with SL at PDL
short if PDL is broken with SL at PDH
if it gaps, watch the first 5mins, then follow ORB on that 5m tf candle
Oil India.. Go Long.. Target 235
Long above 221.20 with SL as weekly closed below 200 for target of 232 / 247 / 255.
OIL - Can test 223 and 230. SL-213
OIL Descending triangle breakout
4x average volume
No lower wick = powerful breakout.
Obviously it'll see some correction and retracement.
Short 190 pe and hold till expiry
1) PRICE CROSS ABOVE MONTHLY RESISTANCE LEVEL
2)DIVERGENCE ON RSI AND PRICE
3) PRICE BREAKOUT OF THE TREND LINE
4)WAIT FOR SOME PULLBACK FOR BETTER ENTRY
Levels mentioned on charts .
long on 207.75
Refer chart for target and stoploss details