HemanthKakani
Long

OIL Analysis

NSE:OIL   OIL INDIA LTD
OIL 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

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out