Rachit_Sethia

#ONGC #TIDEWATER #OIL #IOC #HINDPETRO #BPCL #DIESEL #PETROL #IT

Long
NSE:ONGC   OIL & NATURAL GAS
#ONGC
NSE: ONGC
CMP 117.60
Target 130+
Time frame < 2 months




Factors:
Petroleum sector booming
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Fundamental are strong.
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming
The stock has potential to go beyond 130 in longer time.

PEER COMPARISONS:
NSE: ONGC
NSE: TIDEWATER
NSE: IOC
NSE: OIL
NSE: HINDPETRO
NSE: BPCL
NSE: PETRONET
NSE: SUPPETRO
NSE: CHENNPETRO
NSE: RELIANCE
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With 💚 from Rachit Sethia
Comment: Slight mistake, informing right after posting:
All the lows are "HigherLow" instead of "LowerLow".

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