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IOC made bullish divergence on MACD histogram on weekly chart

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INDIAN OIL CORP (NSE:IOC)  
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NSE:IOC   INDIAN OIL CORP
Chart Patterns Technical Indicators IOC
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chartpattern indicator ioc
Indian Oil Corporation has given bullish divergence on weekly chart. The depth of histogram (bearish zone) is shallow via a vis previous bottom in price which made earlier.

Average Direction index just moved upward (>20) in weekly chart....Further, on weekly chart stock has taken support between 122-125 in last 3 occasion.

IT seems overall bullish pattern is formed for stock.
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