Technical Outlook & Trading Strategy:-
The share price of Indian Overseas Bank has been consolidating in a narrow range of Rs 106- Rs 110 levels for the last few session.
With today’s movement the share price has registered a breakout from this range. This breakout
suggests that the share price could head towards the level of Rs 114.50 / Rs 116 / Rs 118.
We recommend buy at current levels and again on pullbacks to level of Rs 110-109 with a stoploss placed below Rs 107.20.
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