INDIAN OIL CORP LTDPanjang
Gain 10% in IOC after this video - MULTI TIME FRAME analysis
What I see in IOC Would love to share my views with you all :
_ I see that the price was getting rejected from the same trendline on weekly basis for quite a while now
and recently broken with 4 bullish green candles on W charts
_ I see that the zone of 102 to 106 is a strong supply-demand conversion zone, which means it can sometimes work as
demand and sometimes supply zones
_ For now it has broken that supply zone and gone up by 17%, now it is retracing its move, for that we have fibo
tool to understand where it is in terms of retracement
_ I see that the price resides on 0.3 fib retracements and also on supply-demand conversion zone of 105 levels
which will act as demand/support for the price
_ I also see that in 1hr time frame it is making a good trendline which needs a breakout
_ A breakout as depicted in the video if given then it might boom for 113 levels and 117 levels
Trade levels :
Breakout of small trendline needed above the 107 marks ( on 1hr TF )
SL should be self kept as its a self-owned thing ( I might keep it below the swing )
Targets should be set at least larger than the SL and logical too ( 113 is good resistance and 117 is near term high )
___ Have a nice trading-day :) ___
_ I see that the price was getting rejected from the same trendline on weekly basis for quite a while now
and recently broken with 4 bullish green candles on W charts
_ I see that the zone of 102 to 106 is a strong supply-demand conversion zone, which means it can sometimes work as
demand and sometimes supply zones
_ For now it has broken that supply zone and gone up by 17%, now it is retracing its move, for that we have fibo
tool to understand where it is in terms of retracement
_ I see that the price resides on 0.3 fib retracements and also on supply-demand conversion zone of 105 levels
which will act as demand/support for the price
_ I also see that in 1hr time frame it is making a good trendline which needs a breakout
_ A breakout as depicted in the video if given then it might boom for 113 levels and 117 levels
Trade levels :
Breakout of small trendline needed above the 107 marks ( on 1hr TF )
SL should be self kept as its a self-owned thing ( I might keep it below the swing )
Targets should be set at least larger than the SL and logical too ( 113 is good resistance and 117 is near term high )
___ Have a nice trading-day :) ___
JOIN MY FREE TELEGRAM ( More Charts and Discussions ) : t.me/hashtaghammer
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