IOC // LEVEL // 3H

"Welcome to SkyTradingZone "

Hello Everyone 👋

Let's dive into the 3-hour candlestick chart for Indian Oil Corporation Limited (IOC), a leading Indian oil and gas company.

Here are some key insights based on the 3-hour chart:

Current Trend: IOC has been trading in a sideways trend, with a slight uptrend over the past few hours.

Resistance and Support: The stock has a strong resistance level at around ₹155-156 and support level at around ₹150-151.

Bollinger Bands: The Bollinger Bands are contracting, indicating decreased volatility in the stock.

Momentum: The RSI (Relative Strength Index) is around 50, indicating that the stock is in a neutral zone.

Candle Patterns: The 3-hour chart shows a bullish Engulfing pattern at around ₹152-153, which is a bullish reversal signal.