buy ioc above 434 tgt 439/445 sl 426
EVENT: RESULT ON 20 APRIL
2017
Cyient Ltd , Hindustan
Zinc Ltd , Mindtree Ltd
Primary trend of the IOC is bullish
and after giving breakout of its MONTHLY RESISTANCE POINT, it is forming continuation
pattern; as the stock is managing to trade above its 22 and 55&200
days moving averages with the RSI of 84, one may expect the BUYING ABOVE 434
and targets of 439/445 in the stock if it manages to sustain above the
immediate support level of 420.first resistance level seen on charts at 440. On
the other hand IOC is in bull run and is
forming a reversal pattern in short term charts, it is likely to show
correction with the breach of the support level of 426, where one may initiate the short position in it for the targets of 420,410.while stop loss can be
placed at 440.
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