IOC at a Crossroads: Will Bulls or Bears Dominate Next?
Indian Oil Corporation (IOC) is at a crucial juncture with key levels shaping its next move.
Key Levels:
->Resistance: ₹180-₹190 has been a strong barrier.
->Support: ₹129.60 is a critical support level.
->Intermediate Resistance: ₹145.51 is acting as a key hurdle.
Trend:
->Overall: The stock remains in a downtrend, trading below the descending trendline.
->Short-Term: There’s a slight recovery, but the downtrend still holds.
Volume:
>Recent volume indicates participation at key levels but lacks strong bullish momentum.
Strategy:
>For Bulls: Wait for a breakout above ₹145.51 and the trendline for a potential rally towards ₹160-₹170. Keep a stop-loss below ₹140.
->For Bears: If IOC fails to break ₹145.51, consider shorting with a target at ₹129.60 and a stop-loss above ₹146.
What’s your take on IOC’s next move? Share your thoughts in the comments!
Key Levels:
->Resistance: ₹180-₹190 has been a strong barrier.
->Support: ₹129.60 is a critical support level.
->Intermediate Resistance: ₹145.51 is acting as a key hurdle.
Trend:
->Overall: The stock remains in a downtrend, trading below the descending trendline.
->Short-Term: There’s a slight recovery, but the downtrend still holds.
Volume:
>Recent volume indicates participation at key levels but lacks strong bullish momentum.
Strategy:
>For Bulls: Wait for a breakout above ₹145.51 and the trendline for a potential rally towards ₹160-₹170. Keep a stop-loss below ₹140.
->For Bears: If IOC fails to break ₹145.51, consider shorting with a target at ₹129.60 and a stop-loss above ₹146.
What’s your take on IOC’s next move? Share your thoughts in the comments!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.