IOC | TECHNO-FUNDA ANALYSIS

Indian Oil Corporation Ltd – 1W

Trend Description: IOC is showing a clear ascending triangle pattern with higher lows and steady resistance near ₹172. Price is sustaining above all key moving averages, reflecting strong momentum. Support and Resistance Levels: Support: ₹163 / ₹155 Resistance: ₹172 Expected Move: A breakout above ₹172 could lead to a sharp rally towards ₹185–₹200 levels. Failure to cross may cause minor pullback to ₹163. Short Fundamentals Summary: IOC benefits from stable refining margins, government focus on energy transition, and strong dividend yield. However, volatility in crude prices remains a key risk factor. Final Verdict: 🔥 Bullish continuation setup — breakout above ₹172 can open next leg higher.