Breakout Alert: ONGC Channel Breakout Above 300,
Details:
Asset: Oil and Natural Gas Corporation (ONGC)
Breakout Level: Above 300
Confirmation: Channel breakout with increasing volume
Targets: 320 and 340
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: ONGC has broken out above the upper boundary of its trading channel at the 300 level. This breakout is supported by increasing volume, indicating potential bullish momentum. The targets for this move are set at 320 and 340, considering the continuation of the upward trend.
Risk-Reward Ratio: Depends on individual risk appetite and stop-loss placement.
Remember to conduct thorough analysis and implement appropriate risk management strategies before initiating any trades.
Asset: Oil and Natural Gas Corporation (ONGC)
Breakout Level: Above 300
Confirmation: Channel breakout with increasing volume
Targets: 320 and 340
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: ONGC has broken out above the upper boundary of its trading channel at the 300 level. This breakout is supported by increasing volume, indicating potential bullish momentum. The targets for this move are set at 320 and 340, considering the continuation of the upward trend.
Risk-Reward Ratio: Depends on individual risk appetite and stop-loss placement.
Remember to conduct thorough analysis and implement appropriate risk management strategies before initiating any trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.