REVERSAL IN IOC ?1. Stock has made double bottom about 71.50 and broke out the neckline in JAN then corrected to 200EMA, it again made the same highs after which dividend of 7.50 was declared.
2. Price may reverse from these levels as volumes are also draining.
3. Initiate Long @92.55-94
Target @102
SL @90
1Lot = 6500
IOC trade ideas
IOC - BullishIOC CMP - 96.15
Looking bullish and range break out in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy at or Above 96 / Stop Loss 90
Target 1 - 98
Target 2 - 100
Target 3 - 102 / 105
For Options Lovers
Buy IOC 100 CE Jan contract at 2.50 / Stop Loss 1.90
Target 1 - 3.5
Target 2 - 4.5
Target 3 - 5.5
Disclaimer: This is my view and for educational purpose only.
IOC-Bullish-Can take a swing tradeIOC trend line is looking good and also seems to show a multi-year trendline breakout.
All the supports and resistances are given in the chart-Expected to reach 102 in the near term.
The disclaimer-The idea is completely based on my analysis, please go through your analysis before investing