OIL trade ideas
OIL INDIA CMP 110Chart is looking good, given triangle breakout and very near about long term downtrend resistance cross. If sustain above 112 level then we can see good upside.
Stop Loss: 100 ( 9% risk)
Target - 170+
Long - OIL with long waiting consolidationHi Mitro,
Looks like OIL is getting ready to be boiled above 100 degrees. It has been 8 months and OIL is not able to claim price above 102.
LONG
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Buy above 102
STOP LOSS = 91
TARGET is 136 and later 155-160
I hope you will benefit from this knowledge
-MetaVish
PS: Twitter handler = MetaVish.
OIL - Long Oil CMP - 96.65 and can go for swing trade with the following targets.
Buy range @ 93 - 95 / SL - 88.50
Target 1 - 100
Target 2 - 105
Note: This is my view and for educational purpose only
OIL daily/hourly/15 min long 94.9, 94.25 sl : 93.5OIL daily/hourly/15 min long 94.9, 94.25 sl : 93.5
PRo:
1. Daily,hourly, 15 min coinciding
2. level on level
con:
1. Few trading zone on left
breakdown In oil IndiaContinously making lower highs with huge wick
sellow if the trendline support breaks with confirmation and keep the sl at swing high
OIL - long ideaOIL - Go long at cmp 99 for target 110
If daily close gets above 113, hold for 150
Best stoploss will be 83
Positional trade.
OIL AnalysisOIL India is one of the listed PSU's. This stock has been in the downtrend since the start of 2018. This script made a lifetime high at Rs.335 in Sep 2014 and a lifetime low at Rs.137.05 on Jan 2020. In general, when the price is correcting, delivery volumes tend to be on the lower side. However, there has been a rise in delivery volumes in OIL from the last 5 days indicating somebody is accumulating this stock at this level. All momentum indicators/oscillators are indicating that the stock is in an extremely oversold zone. Historically, whenever RSI fell below 30 there has been price reversal. Keep a close watch on this stock and trade and /or invest per your risk appetite.
Conclusion: Increase in Delivery Volumes, Technical Indicators suggesting that the stock is in the extremely oversold zone, historical RSI trend reversal confirmation are indicating that there can be a possible reversal in OIL if the price sustains above Rs. 137.00
Oil India#OILINDIA trading in Cup & Handle pattern but not able to sustain above the breakout level. If Oilindia break 188 level post result we can see 192-196 level according to chart and if stock break 182 level we can see downside toward 178-176 level
