INDIAN OIL CORP LTDShort
IOC : Channel trading pattern : Resistacne @ 129 Can test 112
IOC after a breakout of the bull flag pattern has trading near the resistance of 129 and is in Channel trading pattern in ong term.
Sustain trading above 129 will bring further positive target of 139 - 149 immidiately where as failing to cross 129 can bring prices back to 112 on lower side
Sell CMP @ 127.8 and below 127, with stop loss of 129 on closing basis with tgt of 120 - 112
Buy above 129 on closing basis with stop loss @ 124 with tgt of 139 - 149
Sustain trading above 129 will bring further positive target of 139 - 149 immidiately where as failing to cross 129 can bring prices back to 112 on lower side
Sell CMP @ 127.8 and below 127, with stop loss of 129 on closing basis with tgt of 120 - 112
Buy above 129 on closing basis with stop loss @ 124 with tgt of 139 - 149
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