Continously making lower highs with huge wick sellow if the trendline support breaks with confirmation and keep the sl at swing high
OIL - 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 formaed head and shoulder. target on chart
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...
Black Lines = Weekly Levels/Trendline Red Lines = Daily Level
#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
Based off this chart section Oil is bearish : Descending Triangle - Price broke out below Lower Highs Candlestick Patterns Price is near the trendline and resistance level which gives confirmation of a trend/pattern.
should turn from here and break the channel which have been forming on low volume. has hit a good support, turned and completed a flat correction wthin the channel. More agressive traders may buy from here, but a good strategy would be to wait for a break of the channel to the upside and a consolidation just above the channel before opening a buy position.
Trend change once it breaks out the triangle.. Bullish
Retrace to the 50% Following elliot wave, waiting for the next push up. Check out volume as well at the end, picking up. Can see a move up from here.