freshtrader

ONGC - Trade with caution

NSE:ONGC   OIL & NATURAL GAS
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/-
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