“IOC – Testing Crucial Support ⚡🛢️”

📊 Technical Breakdown 1️⃣ Trend Context: After a strong rally in late 2023, IOC peaked near ₹180. Since then, it has been in a downward-to-sideways consolidation. 2️⃣ Current Price Action: Trading at ₹139, very close to its 20W EMA (~₹138.8). Price is testing this support for the third consecutive week. Sustained break below may trigger deeper correction. 3️⃣ Support & Resistance Levels: Support: Immediate: ₹138–135 (EMA & horizontal). Strong: ₹120 (swing low). Resistance: ₹150–152 (recent swing high). ₹165–170 (major supply zone). 4️⃣ Volume Check: Volume declining during the pullback → suggests it’s a healthy correction unless breakdown occurs.