Technical Analysis of Indian Equities by Nooresh

Oil Marketing Companies–BPCL , HPCL, IOC. A Bounce Trade or Short ?

After a solid run in the last few years the OMCs have finally taken a little break.

With rising crude over the last few months they are back at support levels. Will the support levels hold or break?

It could be a good risk-reward set up to buy close to supports for a bounce and reverse to short if breaks the supports.

IOC – 370-380 support

IOC

HPCL – 390-400 important supports.

HPCL

BPCL – Important supports at 490.

BPCL

 

 

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Date:
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DISCLOSURE Nooresh Merani

Securities covered above:  All mentioned in the above post

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Nooresh Merani and his family/associates/ analysts would not have exposure in the securities mentioned in the above report/article.

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Article by Nooresh Merani

Nooresh has written 2658 articles.

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