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* On a weekly chart, the stock has already given a breakdown of its Neckline of Head & Shoulder formation which indicates a southward movement in the counter.
* Even the stock has made an all-time low with accentuated selling pressure which suggests further weakness in the counter.
* On a smaller time frame, the stock has been trading in a Downward Falling Channel formation since last many days which indicates a southward movement in the counter.
* A daily momentum indicator RSI reading is at 29.95 level with a negative crossover which points out for a negative breath in the counter.
* Based on the above technical structure, we are expecting a downside movement in the counter in a few trading sessions.
Sell Oil India Ltd @144.95-146.00 Stoploss 151 Target 133
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