IOC Impulse Elliot Wave Sequence

31 thg 10, 2020

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Technical analysis provided on the chart is solely the personal views of my research.
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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.