Indian Oil Corporation 1- Hour Chart expecting a Sell to Buy
Indian Oil Corporation as seen on the 1-hour time frame has been putting in higher prices.
The last place composite man (Institutions) sold In was at 103.55 and pushed prices higher to 113.70. Price has created imbalances as it pushed higher and a Demand Zone which has not been mitigated yet. We can expect prices to come back into the demand zone near 104 and may see prices delivered higher in the future.
We can look for short positions towards 104 if the opportunity provides and buy-back with the institutions once it reaches our Demand Zone if we get confirmation to look for buys.
The last place composite man (Institutions) sold In was at 103.55 and pushed prices higher to 113.70. Price has created imbalances as it pushed higher and a Demand Zone which has not been mitigated yet. We can expect prices to come back into the demand zone near 104 and may see prices delivered higher in the future.
We can look for short positions towards 104 if the opportunity provides and buy-back with the institutions once it reaches our Demand Zone if we get confirmation to look for buys.