ONGC: Chart setup Follow up and important levels
ONGC
- This is a follow up on ONGC (idea posted on 30 Dec 2021)
- the stock has seen momentum once we saw breakout from the down trend channel around 148
- despite the broader market volatility and weakness, ONGC has been one of the strong candidates who has stood tall
- it is now positioned at another important level... near the top made in Oct 2021
- if the red zone is crossed and sustained, it would give another breakout and target zone for the breakout would be around 185 / 205 / 213 levels ( the final target is consistent with our view posted on Sept 22, 2021)
- Important Support at 162 / 160 / 158 and 50 day EMA support is around 153 odd levels
Take care & safe trading....!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- This is a follow up on ONGC (idea posted on 30 Dec 2021)
- the stock has seen momentum once we saw breakout from the down trend channel around 148
- despite the broader market volatility and weakness, ONGC has been one of the strong candidates who has stood tall
- it is now positioned at another important level... near the top made in Oct 2021
- if the red zone is crossed and sustained, it would give another breakout and target zone for the breakout would be around 185 / 205 / 213 levels ( the final target is consistent with our view posted on Sept 22, 2021)
- Important Support at 162 / 160 / 158 and 50 day EMA support is around 153 odd levels
Take care & safe trading....!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Disclaimer
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.