After running a marathon from lows of 300 Levels to its 200 Daily EMA, Oil India showing signs of some tiredness at upper levels. For me the setup is optimum for a short trade in Futures, Writing 450 call option or Buying a Put. Well take your bet as per risk. Target for coming week should be 412 . But since its a expiry week be bit vigilant and alert. CMP- ...
as we can see the bearish engulfing pattern there and a couple of doji there signifying greater indecision in the market and bearish divergence there and the market is too overextended
Rising wage in a rising market with RSI divergence now i m filling bearish in OIL INDIA .
An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
Internationally crude oil seems to touch 70 usd dollars in coming days.so i am betting on surging crude beneficiary.
OIL After a prolong decline it's rising very steadily. It's facing some resistance at current price level 418 to 422. Once it closed above 422 it will be will heading towards 452 to 455 and Further 485 to 500 levels without any hurdle. LONG OIL ABOVE 422. MY STOPLOSS IS 380 on Closing basis. Aiming for Target 485-500 & 670. I am Very bullish on Oil and Due...