🟦 OIL INDIA – Upside Setup Building with Global Support
Oil India is showing positive structure, supported by rising crude prices and improving global cues.
📊 Technical View
• Sustaining above 38.2% Fibonacci retracement
• Contraction pattern formed → often precedes breakout
• Momentum supportive, but stock has run up sharply in the last week
• Risk of short-term volatility remains
💰 Trade / Positional Plan
• CMP: ₹514
• Stop Loss: ₹387
• Targets:
• ₹592
• ₹767 (longer-term structure target)
📌 Trading Approach
• Prefer staggered entry
• Control position sizing strictly
• This is a longer-term structure, not a chase
• Impatience = forced cut if sharp pullback occurs
⚠️ Clarification:
This is an independent analysis. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. No fees charged – shared for educational purposes only.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
Oil India is showing positive structure, supported by rising crude prices and improving global cues.
📊 Technical View
• Sustaining above 38.2% Fibonacci retracement
• Contraction pattern formed → often precedes breakout
• Momentum supportive, but stock has run up sharply in the last week
• Risk of short-term volatility remains
💰 Trade / Positional Plan
• CMP: ₹514
• Stop Loss: ₹387
• Targets:
• ₹592
• ₹767 (longer-term structure target)
📌 Trading Approach
• Prefer staggered entry
• Control position sizing strictly
• This is a longer-term structure, not a chase
• Impatience = forced cut if sharp pullback occurs
⚠️ Clarification:
This is an independent analysis. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. No fees charged – shared for educational purposes only.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.