IOC: Chart set up
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IOC
Observations
- the zone of 103-106 has acted as resistance multiple times between Jan 2021 to May 2021
- reversal of role was seen in May 2021 where previous resistance was seen acting as support
- at current levels the stock is back at the important levels
- medium term up trend support (green line) is around 96 currently
Strategy: Consider buying in 2 tranches
- at current levels and have provisions to accumulate further if we see dips towards green line and that is being held
Target for the current set up 136 / 158
Time frame: Medium term to long term
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Observations
- the zone of 103-106 has acted as resistance multiple times between Jan 2021 to May 2021
- reversal of role was seen in May 2021 where previous resistance was seen acting as support
- at current levels the stock is back at the important levels
- medium term up trend support (green line) is around 96 currently
Strategy: Consider buying in 2 tranches
- at current levels and have provisions to accumulate further if we see dips towards green line and that is being held
Target for the current set up 136 / 158
Time frame: Medium term to long term
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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