IOC trade ideas
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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
Indian Oil Corporation Limited, #IOC Indian Oil Corporation Limited, d/b/a IndianOil, is an Indian government owned oil and gas explorer and producer. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India headquartered in New Delhi. Wikipedia
Founded: 30 June 1959
Headquarters: New Delhi
Number of employees: 31,648 (2021)
Revenue: 3.83 lakh crores INR (US$54 billion, 2021)
Subsidiaries: Chennai Petroleum Corporation Limited, Lanka IOC
#IOCIOC-CMP 99.2 Stock is taking support at 50 Dema, Previously also taken support at 50 Dema and bounced back, but this time SRS is also above 0 Line and ARS is also near 0 Line, However, Right now major Resistance level is 107-109,we expect to break this time with volume then the stock will touch 120 and then 135. stop loss should be 89 on closing basis.