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
Indianoilcorporation
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.