IOC TURNS FROM BEARISH TO BULLISH

BUY IOC ABOVE 402 TGT 408/411 SL 395

Primary trend of the IOC  is bearish and  After showing correction from the higher level, now stock is trading in short-term recovery phase, it is forming continuation pattern in short-term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 402 ; as the stock is managing to trade above its 200 days moving averages with the RSI of 402, one may expect the targets of 408/411 in the stock if it manages to sustain above the immediate strong support level of 400.22&55 EMA seen as a strong resistance at 412. If IOC will give Breakout above 412 then one may expect the targets of 416/422.

DAILY CHART FOR IOC