INDIAN OIL CORPORATION

28 thg 1, 2022

INDIAN OIL CORPORATION

1- making perfect cup and handle formation
2- 125-127 is the demand and supply zone that has played its role many a time looks at the chart for more clues
3- if we consider harmonics as well in this chart it is making perfect w pattern
consider the leg of xb as 0.50 (though on the chart it is 0.531 , we can consider it as 0.50)
4 so that targets are coming close to 137-140 range
5 Most important with recent swing to recent swing high if consider as per the Fibo also

it is has done its 0.50 retracement which is sign a healthy retracement

so putting all the points in consideration i am personally bullish in these stocks - only the closing above 127

all the above explanations are as per my understanding

Note:-

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