AbhishekHSinghCMT
Long

ONGC- Above 268 -Inverse H&S Pattern Target for 295-300 Zone

NSE:ONGC   OIL & NATURAL GAS
205 3 6
There is an inverse head & shoulder pattern or Kilroy pattern as named by Edwards & Magee. Above Swing High 268 -If prices sustains -one can look for Inverse H & S Target Zone of 295-300 which is the vertical distance from head to neckline & projected above neckline which gives the target zone 295-300.


Previous Analysis
Trade closed: target reached: 15:15 Hrs 10th Dec2016

Target Achieved for the pattern at 306
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi abhishek,

There is some sharp changes occurs in selling direction.
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Sid, That's why I told above 268 -should look for buying. Made a high@263-264 & started falling. Let me come back to you in this front.
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Sid4053 AbhishekHSinghCMT
Thanks, now I understood, Since it didnt touch 268, so it can't keep up the buying pressure and it falls, right?
Sorry probably having beginners doubt.
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