Oil India - Levels to watch
As we have seen stock respecting demand and supply zone most numbers of times
Currently stock is stuck between a strong demand and supply zone
Also it has been trending in a lower channel
As of now we have a high area of confluence where supply zone meets the upper channel
It can most probably act as resistance
Downside we have a demand zone too
So area of resistance becomes 448 - 450
Area of support becomes 395 - 400
As of now at the current price, it can also be a good straddle candidate
Or can wait to reach any side edge to trade
Currently stock is stuck between a strong demand and supply zone
Also it has been trending in a lower channel
As of now we have a high area of confluence where supply zone meets the upper channel
It can most probably act as resistance
Downside we have a demand zone too
So area of resistance becomes 448 - 450
Area of support becomes 395 - 400
As of now at the current price, it can also be a good straddle candidate
Or can wait to reach any side edge to trade
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