ONGC Doji - Price Action between Fib Retracement Levels
Updated
ONGC has set up a value area last week between the 0.786 and 0.618 Fib Retracement levels with a value price of 84.
The stock made a doji inside the lower part of the value area on Friday which was in line with overall NIFTY movement.
Positional Ideas:
Go Long above 84 for 86
Short below 80.5 for 78, 77, 76
Scalp between 81 and 84 levels
Don't take positional trades In-case of gap openings. Check the price trend and NIFTY trend - follow ORB
The stock made a doji inside the lower part of the value area on Friday which was in line with overall NIFTY movement.
Positional Ideas:
Go Long above 84 for 86
Short below 80.5 for 78, 77, 76
Scalp between 81 and 84 levels
Don't take positional trades In-case of gap openings. Check the price trend and NIFTY trend - follow ORB
Trade active
Buy Triggered at 83 for T1: 84 and T2: 86Trade active
T1 Reached; additional buy triggered for 86 and beyondTrade closed: target reached
Exiting Intraday positionsNote
The idea is relevant for tomorrow; will re-enterNote
Its still in the value area. Don't take short positions unless Support at 80 gets broken with volume
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