Indian Oil Corporation Ltd or IOC on a daily, weekly & monthly chart stock
price is making higher highs and high lows pattern with increase in volume,
indicate positive outlook for the stock price. On a daily chart stock price has
given the breakout at Rs. 582 of ascending triangle pattern and its closed
above the same, indicate ongoing rally will continue towards north. Momentum oscillator
MACD has given the positive crossover, which add more bullishness for the stock
price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 593 for the target of Rs. 635/648 levels, with Rs.576
stop loss on closing basis.
No comments :
Post a Comment