IOC on the Fresh Breakout Level for new highsGood Morning Everyone,
Here we can witness the fresh breakout on trendline where IOC can try to approach his life time high level again @ 196 level. Consider the following levels now:
Breakout - 171
1st Target - 196
2nd Target - 220
Stoploss - 153
NOTE : Please consult your financial advisor before taking any trade on this recommendation
Indianoil
Indian Oil looks good for 30-40% upside in coming months#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 price of Rs 106.55, this results in a dividend yield of 7.51%
IOC is a long term investment idea and a portfolio stockIndian 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 annual and MFs are decreasing stake. The Positive aspects of the company are low debt, zero promoter pledge and FIIs are increasing stake.
Entry after closing above 93.50. Targets in the stock will be 95.10 and 96.35. Long term targets in the stock will be 98.25 and 100. Stop loss in the stock should be maintained at closing below 88.70.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Cash : Breakout Pattern in IOCPrice 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.