April 10, 2017 / 5:35 AM / 4 months ago

BUZZ-India's IOC hits record high; further upside seen

1 Min Read

** Indian Oil Corp Ltd (IOC) rises as much as 3.28 pct to a record high of 410.4 rupees

** Stock has cleared a resistance around 400 rupees, the 423.6 pct Fibonacci projection of a previous wave 1 tmsnrt.rs/2ogNnE4

** Chart shows the completion of a correction and the start of a new motive wave cycle, taking the prices upward

** Trend Intensity indicator (TI) also rises to 16, indicating the start of a new uptrend

** Twenty eight analysts out of 32 covering the stock have "buy" or "strong buy" ratings, three "hold" and one "sell" - Thomson Reuters Eikon data

** Stock had risen 93.3 pct in the past year as of Friday's close, compared with a 21.9 pct gain for the broader NSE Index

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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