ONGC can go up after retesting the current breakout levels

In weekly charts, a trend-line can be drawn if you connect the highs of 22nd January 2018 and 20th May 2019. This trend-line was resisting, but in daily charts, it was forming an inverse head and shoulders pattern since 25th February 2021 and it broke the above mentioned longterm trend-line on June 3rd. But now it is retesting the same levels after this breakout.

Those who are holding can wait for a little more.
Those who haven't entered can wait for a bullish sign in the weekly chart at this current level to enter.

EXIT manually, if you think Nifty will fall constantly.

PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.