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Price and trend forecast of IOC for Tomorrow, Weekly, Monthly

Indian Oil Corporation Limited

Symbol: NSE:IOC

ISIN: INE242A01010

165.82

As on 2024-07-23

85.50 (52W Low) 196.80 (52W High)

IOC's Today's Performance

Indian Oil Corporation Limited started the day by opening at 169.35 today 2024-07-23. Its shares reached a high of 169.35 and dipped to a low of 160.66 in intraday. When the markets closed, IOC’s stock price settled at ₹165.82 per share. Also check out its key support and resistance levels.

IOC Buy/Sell Targets

Tomorrow, sell IOC when its price reaches ₹ 165.82 with a stop-loss order at ₹ 169.08. You can set the target price as ₹ 162.56 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of IOC for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for IOC

Downside Targets Value in ₹
Tomorrow Down Target 1 170
Tomorrow Down Target 2 174
Tomorrow Down Target 3 179

Important Levels for IOC

Holding Levels Value in ₹
Tomorrow Up Target 1 161
Tomorrow Up Target 2 157
Tomorrow Up Target 3 153
Based on where the stock opens tomorrow, if IOC opens on a positive note, our first target will be ₹170. If Target 1 is achieved, we will aim for Target 2 which is ₹174.

But if IOC falls below the average value of ₹165.28, you can enter a sell side position with target number 1 - ₹161 and second target - ₹157 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of IOC

Looking at IOC, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, IOC has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for IOC is moderate bearish.

Tomorrow's Volume based share price Forecast for IOC

IOC's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 27%.

Reversal detection for IOC

Predicted trend chart of IOC tomorrow for price forecast
IOC may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹167 in morning tomorrow
Target 1 tomorrow169
Target 2 tomorrow171
Target 3 tomorrow174
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with IOC's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if IOC opens on a positive note, our first target will be ₹169.89. If Target 1 is achieved, we will aim for Target 2 which is ₹173.97.

But if IOC falls below the average value of ₹165.28, you can enter a sell side position with target number 1 - ₹161.20 and second target - ₹156.59

IOC's Weekly Targets
1st Up Target 169.89
2nd Up Target 173.97
1st Down Target 161.20
2nd Down Target 156.59

As the week for IOC ended on bullish sentiments, we can expect further continuation of this sentiment. IOC's initial target will be 169.89 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 161.20 in the upcoming week.

Weekly OHLC Values
Open 165.49
High 169.35
Low 160.66
Close 165.82

Week for IOC started with an open price of 165.49, and the close was at 165.82. IOC reached the highest of 169.35 and dipped lowest up to 160.66 last week. This indicates a bullish sentiment for the week.

IOC full month swing targets
Monthly Up Target 1 178.58
Monthly Up Target 2 182.66
Monthly Down Target 1 152.51
Monthly Down Target 2 139.21

Targets of ₹178.58 can be expected to be reached in the coming month. Once IOC achieved this target, we can aim for the next upside target of ₹182.66.

IOC if fails to hold upside, down targets of ₹152.51 and ₹139.21 can be achieved by end of this month.

For complete three weeks if IOC is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as IOC

Symbol Name Industry
RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

IOC is expected to reach the target of 169.89 in tomorrow's trading session.

After achieving the initial target in IOC, we will aim for higher targets of 173.97 tomorrow.

However, if IOC starts to trade below ₹165.28, then we will shift our focus to the sell side and aim for down targets of 161.20 and 156.59.