Although a promising long term buy.
RSI approaching oversold conditions.
Moil currently getting into a stochastic correction.(Look for the local peaks and troughs)
the price action would always follow Stoch.
Oscillators suggesting strong signs of next motive wave formation. However, the last motive wave pulled back below the last corrective wave,
Possible...
Approaching oversold conditions.
Wave 3 pulled back beyond motive wave 1 termination. suggesting a truncated wave 5 and a temporary trend reversal.
Although this stock is a good long in Stoch correction. look for the local peaks and lows.
A possible explanation could be the high div. yield ~5%++
In any case, it is wise to wait till it snaps out of the stock...
Is in bullish uptrend move. First gave proper Cup n Handle Breakout, and then retracement started around 270 levels. During retracement Flag Pole pattern is formed with good volumes and delivery%. Stock if closes above 275. Should go to 300+ levels
SL - 265
moil hit bottoms multiple times at 341and out of the triangle with a breakou.look to go longwith first target at 367 and second target at 380.....nifty has to support.stoploss @ 351 if as invester or 361.50 if day trading.enter only above 363.50
