ssvirdi

Oil and Gas Sector Index Analysis, Levels and Trade Zone

NSE:NIFTY_OIL_AND_GAS   NIFTY OIL AND GAS
Hello Trades,
I shifted my focus on the Oil and Gas sector.

From Sep 21 to Sep 23, we see the price is moving around a price zone of 7710 to 8164. This zone acts as a resistance. But recently on the weekly chart we see a bullish crossover below the resistance zone and the price has entered the resistance zone.
The HA candles indicate the upward momentum in the price. From these levels the price potentially moves to the higher levels.

Also on the daily chart we see a clear uptrend.

Wait for the breakout of the 8164 level and the price will try to reclaim its recent high levels of 8668.

Thanks
Sardar Simranjit Singh Virdi

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