AbhishekHSinghCMT

ONGC- Can it hit the box on the upside

Long
NSE:ONGC   OIL & NATURAL GAS
176 views
11
ONGC once penetrates 243-244 mark- Likely it will travel in the zone of 252-254 -Hitting the box the resistance from the top end channel. Once it hits the box & we see it is unable to penetrate on upside & facing resistance- we shall look for selling opportunities in later sessions.

Trading Strategy- Likely going above 243-244 -ONGC could head for upside immediately.

Regards,
Abhishek H. Singh, CMT
Trade closed: target reached: 10:35 Hrs-IST-8th Sep2016- ONGC -Target Reached - Box Hit & Made session high@254.90
Trade active: 12:15 Hrs- IST-9th Sep2016- We shall wait for market clues before it starts falling in the down leg as expected & channel should hold on top or at least ONGC should get rejected in the current zone of 250-255.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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