DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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Indian Oil is under-performed its other peers post covid fall.
From all time high stock is in stiff downtrend and in parallel channel.
It has formed bottom at start of wave i and retraced nearly 80% of wave i.
Stock may create leading diagonal and should move higher.
With SL 71.6 Long for 110-116 which is wave iii taget 1.618 Fibonacci level
In year or it should touch upper channel line near 125.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE & Donate Coins to support my analysis)))))-------
Indian Oil is under-performed its other peers post covid fall.
From all time high stock is in stiff downtrend and in parallel channel.
It has formed bottom at start of wave i and retraced nearly 80% of wave i.
Stock may create leading diagonal and should move higher.
With SL 71.6 Long for 110-116 which is wave iii taget 1.618 Fibonacci level
In year or it should touch upper channel line near 125.
