#IOC looks great here as it is breaking out
30-40% move is possible in coming months.
More so, If anyone is holding this for long-term, along with the upside, there is a good % that one can earn in terms of Dividend yield. In the past 12 months, Indian Oil Corporation Ltd. has declared an equity dividend amounting to Rs 8.00 per share. At the current share...
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.
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 1.5:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
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.
indian oil corporation break the long supported trend line now price is moving downward ..
price near support so small bounce can
selling pressure is really high
