Mazhar Mohammad
After the recent correction from the highs of Rs 177, Indian Oil Corporation appears to have formed a strong base around Rs 150 where it is attracting huge buying interest as pointed out by long lower shadows on weekly charts.
Hence, sustaining above this level it can initially target Rs 170. A stop loss suggested for the trade is a close below Rs 154.
Disclaimer: The author is Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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