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OIL INDIA Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock facing strong support around 556 & 552, Weakness expecting if OIL (I) closes below. (Updated for 11th August 2014, Monday).


OIL INDIA




  • OIL INDIA has formed descending triangle formation in daily chart this indicates once stock breaks its formation sharp move is expecting in OIL India.
  • Chart also indicates stock was earlier taking its 50 days moving average support and always bounced back, this time stock broke its 50 DMA and now trading below, as shown in graph no 2 stock is now facing 50 DMA resistance as long as it trades below it will favor bears.
  • Now as per fibonacci studies stock will test its 50% fibonacci retracement support around 552.50 , if stock closes and stays below 552.50 then further weakness is expecting and stock will find next support around 533  its golden ratio 61.8% fibonacci retracement.
  • Click here to see all the free trading reports (tips) published by us on OIL INDIA.
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What is Intraday Tips ?

Q. What is Intraday Tips / Inraday Trading / Delivery trading.

A. There are basically two types of trading on stock market--
1- Delivery
2- Intraday

Delivery trading is one in which shares are bought and can only be sold after they are delivered by the broker.that means that they cannot be sold the same day , and delivery takes two to three days after they are bought and then they are ready to be sold.

Intraday trading which takes place for that very particular day and there is no delivery..they can be bought and sold the same day...and are automatically sold at the end of the trading session if you have not sold it by yourself during the trading session. The person who suggest such types of forecast is called

Intraday Tips

.