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Oil India Shares – Volatility and Range trading persists in the stock

Oil India Price action implicates ideal conditions for range trading

Oil India Share prices reflecting mean reversion Market behavior. It’s obvious to notice both upside and downside swings through Price action. We can witness both buying and selling pressure in the stock at consecutive highs and lows. Since Oil Industry is prone to International Crude oil price fluctuations, it makes sense to understand recent moves in that context.

The market sentiment and bias shifted to upside from the end of July. Prices rallied from 260.00 and market saw extended buying pressure. Likely the reason has to be Big money players liquidating their previous short positions after an extended down move. Price action and market behavior at 275 structural support zone indicates their involvement. (Big Players can’t hide their hands everywhere!)

Resistance level at 291.00 is capping further advances, as some good offers seem to exist at the level. Multiple Price rejections, false breaks are signs of Mean reversion behavior. Increasing volatility and vibrant two-sided fluctuations makes it an ideal stock for range trading. Traders should watch and capitalize on range trading price action setups.


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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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