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

 

 

Technical Analysis Training Mumbai

Date:
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