IOCL made a strong Bullish Structure on a Monthly timeframe.
It's a strong Buy on a Decent Dips.
Monthly Resistance Breakout.
Short Term targets 🎯 on Charts.
Indian Oil Corporation Ltd. is a diversified, integrated energy major with presence in almost all the streams of oil, gas, petrochemicals and alternative energy sources. The company owns over 36,445 Fuel Stations across India. Indian Oil Corporation CMP is 92.60.
The Negative aspects of the company are declining annual net profit, declining cash from operations...
NSE:IOC is trading above major resistance of 69.00. My idea is to take entry at current level and wait for targets of
70.75
71.50
74.50
75.50
My stop loss will be 65.
Note: This is my personal analysis, only for learning. Thanks.
Indian Oil Corporation Ltd - 08.03.2022
The stock is trading @ 117 levels
There is a HAMMER in Daily Chart
The prices are at EMA
Watch out for the price actions
IOC - Short NSE:IOC BSE:IOC NSE:IOC1!
IOC - 4hrs charts seems a bearish Trend.
Refer to the Invalidation / Confirmation levels
Educational Purpose Only!!! Always do analyze Before taking a position!
Price action in IOC shows price breaking out on Weakly chart. Price also closed above its 20 periods moving average and RSI shows a break out of a falling trendline and a pop above 70. This shows the stock is gaining momentum on the upside.
Buy around Rs 104-109 for a rally to Rs 118 and above that to Rs 130 over the next 2-3 weeks. Keep a stop below Rs 95.
