IOC Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving up from strong support zone, will favor bulls once IOC closes above 360. (Updated On 19th August 2014, Tuesday).

INDIAN OIL CORPORATION

• As per previous report published on IOC, stock failed to break its support of 319, and stock moved up. (Click here to see previous report published on IOC).
• Now daily chart indicates stock is moving up from strong support of 319 its 50% fibonacci retracement support zone , this indicates as long as stock holds above it will be favored by bulls.
• As per graph no2 stock is also moving up from 100 days moving average this will favor bulls to take stok further up, but if IOC closes below its 100 DMA then stock will show first sign of weakness. Close Watch.
• As per graph no 3. stock is currently finding golden ratio resistance around 360 (61.8% fibonacci retracement), once stock closes and stays above 360 then stock looking bullish for next 1-2 trading days.
• Intraday close watch once stock starts trading above 360, if holds above then intraday bulls action is expecting in IOC.
• Suggested Reading - ESSAR OIL trading above its previous top , will favor bulls as long as holds above 120.
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