ONGC has posted a solid results this Q1 of FY 22-23
Stock has made higher lows and higher high formations.
Successful B/O at 131.6 range of historical resistance after retesting the Point of Confluence which is support of trendline and the B/O resistance turned support.
* Dividend announced of INR 3.25/- per equity share 18th Aug Ex -Div
Once can enter after retesting the trendline keeping SL below the retest area/ the lower candle before B/O or according to your analysis.
Targets can be set according to FIB levels and resistance levels.
One can hold this stock for long term as this is one big player in Oil and Gas Industry with good dividend history.
Please do a thorough analysis before entering the trade, this is not a recommendation / a trade call.
Please let me know your observations / opinions in the comment box below.
Please follow your risk reward appetite and your rules of trading and do not compromise with risks.
Stock has made higher lows and higher high formations.
Successful B/O at 131.6 range of historical resistance after retesting the Point of Confluence which is support of trendline and the B/O resistance turned support.
* Dividend announced of INR 3.25/- per equity share 18th Aug Ex -Div
Once can enter after retesting the trendline keeping SL below the retest area/ the lower candle before B/O or according to your analysis.
Targets can be set according to FIB levels and resistance levels.
One can hold this stock for long term as this is one big player in Oil and Gas Industry with good dividend history.
Please do a thorough analysis before entering the trade, this is not a recommendation / a trade call.
Please let me know your observations / opinions in the comment box below.
Please follow your risk reward appetite and your rules of trading and do not compromise with risks.
