📉 IOB (Indian Overseas Bank) - Falling Channel Setup
🔍 Daily Chart Analysis – June 26, 2025
IOB has been trading within a well-defined falling channel since early 2024. Price is currently testing the upper boundary of the channel but hasn’t confirmed a breakout yet.
🔑 Key Observations:
Structure: Clearly respecting the falling channel.
Moving Averages: Price is hovering around short-term EMAs (20 & 50) and below the both EMA, indicating weak momentum.
Volume: No significant volume surge yet to support a breakout.
Confirmation needed: A close above the trendline (~₹39–40) with volume would be an early sign of bullish reversal.
🎯 Watch for:
Breakout above ₹40 with increased volume = potential short-term rally.
Failure to break may result in retesting lower channel support near ₹33–34.
🧠 Adding this to my breakout watchlist. Will reassess if it closes outside the channel.
🔍 Daily Chart Analysis – June 26, 2025
IOB has been trading within a well-defined falling channel since early 2024. Price is currently testing the upper boundary of the channel but hasn’t confirmed a breakout yet.
🔑 Key Observations:
Structure: Clearly respecting the falling channel.
Moving Averages: Price is hovering around short-term EMAs (20 & 50) and below the both EMA, indicating weak momentum.
Volume: No significant volume surge yet to support a breakout.
Confirmation needed: A close above the trendline (~₹39–40) with volume would be an early sign of bullish reversal.
🎯 Watch for:
Breakout above ₹40 with increased volume = potential short-term rally.
Failure to break may result in retesting lower channel support near ₹33–34.
🧠 Adding this to my breakout watchlist. Will reassess if it closes outside the channel.
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