OIL - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.5

Here’s a detailed technical analysis of Oil India Ltd (OIL)

📊 Trend Overview

Current Trend: Mildly bearish

Phase: Consolidating with downside bias

Bias: Negative, as price trades below key moving averages and momentum indicators weaken

📈 Technical Indicators Analysis

🔹 Moving Averages

50 DMA: ₹413

200 DMA: ₹428

Current Price: ₹399

Price is below both DMAs → signals short-term and medium-term weakness

Downward slope on 50 DMA → confirms fading momentum

🔹 RSI (Relative Strength Index)

RSI: 45.1

Slightly bearish zone → approaching oversold territory

Indicates weak buying interest and potential for further downside

🔹 MACD (Moving Average Convergence Divergence)

MACD: -5.57

Negative MACD → confirms bearish divergence

No bullish crossover → trend remains under pressure

🔹 Bollinger Bands

Price near lower band → oversold zone

Bands widening → increasing volatility

Could signal short-term bounce if volume supports the move

🔹 Volume Trends

Current Volume: 49.4 lakh

1-Week Avg Volume: 24.7 lakh

Volume spike suggests speculative interest

Not backed by strong price action → lacks directional clarity

📌 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 390 Minor support zone

Support 2 370 Previous swing low

Resistance 1 413 50 DMA, immediate ceiling

Resistance 2 428 200 DMA, intermediate resistance

Resistance 3 460 Trend reversal confirmation zone

🎯 Entry & Exit Zones

Optimal Entry Zone: ₹390–₹395 (on pullback near support)

Exit Zone / Profit Booking: ₹428–₹460 (resistance and breakout target)

🔍 Momentum Signals

Short-Term: Weak momentum, MACD and RSI confirm bearish pressure

Medium-Term: Consolidation likely to continue unless price reclaims ₹413 with volume

Volume: Elevated, but needs directional confirmation

🧭 Conclusion

OIL is currently consolidating with mild bearish undertones. Technical indicators show indecision, and the price is hovering near key support levels. Traders may consider accumulating near ₹390 with a tight stop-loss, targeting ₹428–₹460 if volume confirms a breakout.

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