🟦 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.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.