With us entering an election cycle and crude prices rising..the govt won't increase prices of Petrol/Diesel which would spark inflation.
IF prices are held constant..OMC's will start making a loss. (Esp if the govt doesn't reduce taxes on fuels)
Short below 350 with a SL above 355.
There will be a trendline breakdown but also the stock will fail to move above the 200EMA on the daily timeframe.
IF prices are held constant..OMC's will start making a loss. (Esp if the govt doesn't reduce taxes on fuels)
Short below 350 with a SL above 355.
There will be a trendline breakdown but also the stock will fail to move above the 200EMA on the daily timeframe.