Technical Analysis Indian Oil Corp.

The stock

is last two years the stock has shown massive swings. It had a huge rally in early 2024 followed by a deep grinding correction that bottomed out in early 2025. While it mounted a great recovery toward the end of 2025 that uptrend has recently broken down. Major resistance the 180 to 190 area has proven to be a very strong ceiling. The stock was rejected heavily from here twice forming what looks like a broad long-term Double Top pattern. Immediate support the stock is currently resting near a minor support zone around 140-145. We have seen price react around this area in the past. Crucial support if the current selling pressure breaks below 140 the next major floor is the dashed line marked near 131.94. This is a solid structural support level. Below that the absolute base remains the 110-120 zone from early 2025. The immediate trend is strongly bearish. The recent drop from the 180s has been fast wiping out months of gains in just a few weeks. The upward structure of higher highs and higher lows has been broken and the recent red volume spikes suggest heavy distribution by sellers. New buyers avoid jumping in right now to catch this steep fall wait for the price to stabilize and show clear reversal signals near the 132-140 support zones before allocating funds. Current holders watch the crucial 131.94 support level closely since the stock is already near a support area wait to see if it bounces, but consider exiting if it breaks strongly below 131 to prevent deeper losses. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.