ONGC End of Bull Rally Short

OIL & NATURAL GASNSE

Description

⋅ Nov 28, 2016 6:27 AM

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

⋅ Nov 28, 2016 6:29 AM

Maruti Same Strategy check if u want to understand with real time peroformance

Comments

dev_trader

⋅ Nov 30, 2016 1:44 PM

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.

MehulJain3a

⋅ Dec 1, 2016 3:27 AM

@dev_trader, let's see i might give a spike upside. then will come down

maheysh

⋅ Nov 28, 2016 11:57 AM

Can you post ABC correction pattern for bharti airtel for better understanding

MehulJain3a

⋅ Nov 28, 2016 1:00 PM

@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

maheysh

⋅ Nov 28, 2016 11:31 AM

Seems it is moving to C Wave