Indian Oil Corporation | Volume Breakout huge buying of all time
price at support after that huge buying done in this stock
we can see a short term target like 140 , 150 very soon need some some correction at 115 area .
this are the thing you must aware of for this trade
1 ) price touching support again and again
2 ) head and shoulder like pattern
-----------Head and Shoulder Pattern on daily chart or mostly rejection at top
3 ) if price goes below 110 none of your stop will be executed a sudden dump highly possible due to huge volume .. weak hand will be taken down
4 ) on weekly price can take support at RSI
---------Chart : weekly RSI support chart
Weekly Chart and RSI
When to buy do we have any kind of confirmation
closing above black line support trend line ( weekly closing above 120 - 121 )
only risk taker can buy here
Buy : ladder 114 - 120
Stop : 105
Target : 130 , 140 ,160 ( 1 - 2 month )
we can see a short term target like 140 , 150 very soon need some some correction at 115 area .
this are the thing you must aware of for this trade
1 ) price touching support again and again
2 ) head and shoulder like pattern
-----------Head and Shoulder Pattern on daily chart or mostly rejection at top
4 ) on weekly price can take support at RSI
---------Chart : weekly RSI support chart
Weekly Chart and RSI
When to buy do we have any kind of confirmation
closing above black line support trend line ( weekly closing above 120 - 121 )
only risk taker can buy here
Buy : ladder 114 - 120
Stop : 105
Target : 130 , 140 ,160 ( 1 - 2 month )