The near-term outlook for Indian Oil Corporation Limited (IOCL) is bullish. Wednesday’s 3% rise took the stock well above the key resistance level of ₹166. This also confirms the end of the previously implemented correctional decline. There is currently strong support in the ₹167-165 area which could limit the downside. New buyers are likely to enter the market near this support zone. IOCL stock price may rise to ₹188-₹190 in the coming weeks.

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Traders can now buy IOCL stock for ₹173. Accumulate with a dip of ₹169. Initially keep the stop loss at ₹162. If the price rises to ₹180, the stop loss will continue till ₹176. When the price reaches ₹181 and ₹185, fix your stop loss higher to ₹179 and ₹183. Exit long at ₹187.

(Note: Recommendations are based on technical analysis. Trading involves the risk of loss.)

Published February 5, 2026