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IOB: Long term chart set up

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IOB
CMP 16.15

- We observe a break out in the stock chart
- chart suggest, stock price currently in consolidation mode
- the zone of 13.25-16 is very important for IOB
- if held on to the doors open up for further upside in medium to long term

Target for the current set up 24.20 / 32-35 zone
Pattern gets invalidated if IOB weekly close is below 12.15

Buy on dips strategy may be deployed...

Risk reward ratio looks good to accumulate the stock from a medium to long term perspective

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Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

注释

First target of 24.2 almost done

Made a high of 23.4

Happy trading...!!!