varadtambolkar

IOC, Down side is limited. Positional long.

Long
varadtambolkar Updated   
NSE:IOC   INDIAN OIL CORP
My earlier view in #IOC ( #indianoilcoporation) failed.

But now IOC looks much more positive. After breakdown form around 82 levels, the down move was not with required volumes. Although I don't use indicators much but there is clear RSI divergence. Next Levels 81 96 101 115. Last week was a spinning top candle followed by bullish candle.
Level are not always exact. It is always a area.
Comment:
First target hit.
Comment:
Second target of 96 hit.
Comment:
Fresh breakout above 97
We already entered at 75 trail you sl to 80
next level to watch is 108 to 116 area.

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