Indian Oil Corporation Swing Trading Analysis

Indian Oil Corporation Ltd. (IOCL) is India's largest state-owned oil and gas corporation. It plays a vital role in the country’s energy sector by refining crude oil, distributing petroleum products, and exploring natural gas.

Business Segments

• Refining: Indian Oil operates a vast network of refineries with a refining capacity of around 80.5 million metric tonnes per annum (MMTPA). This gives IOCL a dominant position in India's refining sector.
• Marketing: IOCL controls over 43% of the market share in India's petroleum product distribution network. It supplies fuel and lubricants through more than 60,000 outlets.
• Petrochemicals: Indian Oil has diversified into petrochemical production, adding value to its core business by producing polymers, chemicals, and other materials.
• Natural Gas: The company has been increasing its presence in the natural gas segment, participating in upstream exploration as well as pipeline operations.

Moreover after reaching its All time High Indian Oil got corrected to 163 after reaching 183.89 . The reason for its correction was multiple and since then Investors are waiting for a long time for it to correct and then come back on track so that Investors can Invest in this Fundamentally strong Company .

The Stock took support at 163.16 and after that it formed a Bullish Price Action indicating a trend reversal towards Uptrend . After Holding a Level of 165 and reaching and holding at 166-167 Level on 20th September 2024, The stock showed a powerful Bullish sentiment and now it could reach to upper areas Like 167 , 168.93 , 176.96, 173.49 and 174.47

This Trade Analysis is only for Educational Purpose . I am Not SEBI Registered and I am not sharing any Trade Idea or Recommendation . Trade or Invest according to your own Analysis.