IOC trade ideas
Indian Oil Corp Price at monthly trend linepink line is monthly support around 70 rupees.
it is important to see this level when price hit this trend line support if price able to maintain this level than it can move upward to short term target 80 , 90 , 100 as relief rally ( corona crisis so it can repeat usoil rally too.)
no oil consumption can lead this to 50 , 60 rupees zone. same as usoil contract about to expire and negative price hit. but yes until pandemic is not over oil will go dip
Indian Oil Corporation - low demand and cheap oilIndian Oil Corporation is going through a tough time this year. Cheap oil for India is like a breath of air. Cheap oil was a very good growth driver for the company, as it is now. But the coronovirus is likely to hit India's economy hard.
If oil prices remain below $60, the stock looks very good.
I am still waiting for the company's shares to fall to prices 60, or maybe lower than 45 and 30. It is worth considering buying shares after the situation with this damn virus is normal.
I wish everyone good health!
IOC is showing bullish gartley. Only for educational purpose.All studies explained in the chart. Comment your opinion. Watch my previous calls.
Indian Oil Corporation | Volume Breakout huge buying of all timeprice at support after that huge buying done in this stock
we can see a short term target like 140 , 150 very soon need some some correction at 115 area .
this are the thing you must aware of for this trade
1 ) price touching support again and again
2 ) head and shoulder like pattern
-----------Head and Shoulder Pattern on daily chart or mostly rejection at top
3 ) if price goes below 110 none of your stop will be executed a sudden dump highly possible due to huge volume .. weak hand will be taken down
4 ) on weekly price can take support at RSI
---------Chart : weekly RSI support chart
Weekly Chart and RSI
When to buy do we have any kind of confirmation
closing above black line support trend line ( weekly closing above 120 - 121 )
only risk taker can buy here
Buy : ladder 114 - 120
Stop : 105
Target : 130 , 140 ,160 ( 1 - 2 month )
indian oil corporation support trend line break. new downtrend ?indian oil corporation break the long supported trend line now price is moving downward ..
price near support so small bounce can
selling pressure is really high
Bullish Gartley completion @123.5If and only if the Gap-down because of iran attack today do not spoil the mood use the pattern.
IOC looks like a good buy for medium to short termHave to wait for buy or keep on adding in dips will be good profit making company.
IOCIOC has formed triple top pattern on daily charts and broken the neckline , one can take this trade as risk reward is 1:3 in this case
IOC IS IN DOWNTREND CAN COME UPTO 136.15BLACK IS WEEK CANDLE DOWN TREND FIBONNCI AND PURPLE IS DAY CANDLE FIBONNACI FOR UPTREND MARKET WILL REACH FIB 50 TO 61.8% AND CAN MOVE UP TO 156 LEVEL ..WIILL WATCH THE LEVEL
