At the interbank forex market, the local unit opened at against the greenback and "Indian Rupee depreciated amid strong dollar and rise in crude oil prices. Additionally, the rupee slipped on concern over rising COVID cases in India. herein are those of individuals and not necessarily those of the Bank.
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First, the specific price level indicated by R1, R2 and R3 may act as a barrier or resistance in an uptrend. So, if a stock moves up above these pivots levels, the uptrend gets confirmed.
Second these specific price levels may see an increased activity, hence may be used as levels to book profit by traders with a long positions. For traders with short position, these points are often helpful in determining what should be the stop loss for a trade. Similarly, in case of support levels as indicated by S1, S2 and S3, they may act as price level where a stock might get a breather when it is slipping southward.
In case these supports levels are broken it is a confirmation of a down trend. The stock may also see increased activity close to pivot levels. They may be used by trader may use them to put stop loss for a long trade. If a trader has short position, the pivot level may help in determine a level, where profit may be booked. Like any other technical indicator, pivots levels cannot and should not be used as single factor while taking a trading decision.
They should be combined with other technical indicators. It could be short term moving averages, stochastic, moving average convergence divergence MACD or overbought level as indicated by relative strength index RSI. For example, if a breakdown of support level S1, S2 or S3 is accompanied with stock price also moving below its short term moving average or stochastic on daily charts giving a sell signal, it would add to weightage to the decision of taking a short trade. Nifty 14, Sensex 50, Adani Gas 1, Indian Overseas Bank.
Indian Overseas Bank Open Insights Rank 80 - ET ranking. Found Insights useful? Key Metrics. View Past Recommendations. Financials Consolidated Standalone.
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Found Financials useful? Last Signal 23 Mar Gain 9.
Heikin-Ashi Changeover Bullish indication on daily chart. Close Price Positive Movement since 1st Jan on basis. Negative Movement since 1st Jan on basis. Global Meltdown 1st Jan to 10th Nov Covid Crisis 1st Feb to 31st Mar R1 Found Technicals useful? Found Peer Comparison useful? Category No. More Schemes. General Meeting - Nov 02, General Meeting Cancelled Nov 02, No Data Available. About Indian Overseas Bank, incorporated in the year , is a banking company having a market cap of Rs 27, Industry Banks - Public Sector.
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Indian Overseas Bank (IOB.BO)
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