ONGC - Trade with caution

freshtrader Updated   
Trade with caution.
Comment: Still within the triangle, wait for closing outside triangle for two sessions, Then we can see movement. Good Luck.

Note:- My Analysis is not recommendation, It is just some info, which you can use and make your own judgement.
Comment: is it silently completed CUP and Handle ???
Comment: Excellent upmove today..

Be cautious at 192 - 193. Closing above 193 is good sign for more upmove.
Trade active: 180CE @ 8.10 2 Lots
Comment: Closing above 185 3 days in a row is good sign.

Brent Oil touched 78$ ...

Tomorrow will be volatile due to election result, If it closes above 185 tomorrow then we could see 193 by expiry..
Comment: ONGC cash touched 192. and 180CE touched 13.25

If it closes above 192 and tomorrow starts in positive trend in first 1 hour, we have good up move. Otherwise take a judgement
Comment: Recovered from 175 (day's low) to 186 (day's close) .... Still having hopes for uptrend.
Comment: Brent Oil touched 80$ ... fingers crossed
Comment: 192 seems strong resistance. need more energy to break 192-195 resistance and move more up hill
Comment: Missed good opportunities of 180CE @ 13.4 and 12.25 ...

Do i get such opportunity again ?
Comment: probably will consolidate below 180 upto May expiry.

Will exit tomorrow ..
Trade closed manually: Loss 60000/-

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.