MehulJain3a
Short

ONGC End of Bull Rally

NSE:ONGC   OIL & NATURAL GAS
165 5 2
NSE:ONGC            

Confirmation End of Bull Rally
Completion of 5 Waves

Sell Range - Rs280 to Rs290
SL - Rs295 (weekly Close)
Target 1 - Rs264
Target 2 - Rs243

Potential Return - 14%
Potential Loss - 5%

Option Strategy

Buy 29Dec PE 240 - Rs0.50 to Rs2.00
Buy 29Dec PE 260 - Rs1.50 to Rs2.50

Comment:

Maruti Same Strategy check if u want to understand with real time peroformance
I agree on this chart, however, looking at the current OIL prices increase (almost 6% up), i feel that this will take ONGC upto 300.
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MehulJain3a dev_trader
@dev_trader, let's see i might give a spike upside. then will come down
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Can you post ABC correction pattern for bharti airtel for better understanding
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MehulJain3a ymaheshreddy4u
@ymaheshreddy4u, airtel as of now der is no good entry point, if i find opportunity then for sure i'll post...short term it can go to Rs340-Rs350
Reply
Seems it is moving to C Wave
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