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Oilandgas

Favourable RR OPTIONS in ONGCTechnical Analysis - 1. Falling channel breakout above DZ turned SZ 2. Going from lower range to higher range of rising channel 3. Sustaining above 20EMA & towards 200 EMA 4. OI data supportive - A Short Covering is to be seen after Long Buildup wipe out last 2 days Short Buildup Go long in ONGC by buying CE - 1. ENTRY / TARGET as per spot chart - 139.2 / 144 2. SL using spot chart - 138 3. RR - 1:4 4. Strike Price - ONGC 25 AUG 140 CALL (or a little OTM as per your risk taking capacity) Other considerations - 1. Considerably good result (might not be as per expectations) 2. Huge demand still to be seen given the dividend ex-date on 18th Aug'22 3. Avoid this trade if opens Gap Up or Gap Down by 1% This is for educational purpose for others & not a recommendation. Please do a thorough analysis of your own before entering the trade.
NSE:ONGCLong
by ht_rohit
1
ONGC PSU, Good results and at verge of breakout. 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.
NSE:ONGCLong
by harshith67
Reliance IndustriesCurrently trading at 13% discount from all time high levels. Reliance (TF=W) : 1. Stock has always respected 50 Weekly Exponential Moving Average 2. Constantly making the structure of HH and HL. Currently made Equal Low. 3. Negative Crossover of 5 and 13 Weekly Exponential Moving Average Reliance (TF=D) : 1. It has made very strong bullish candles on Support with very good volumes 2. Negative Crossover of 5, 13 Days Exponential Moving Average 3. Currently at good levels for Long term investment. For positional trade, need to wait for some retracement to enter. Additional Points: 1. Mutual Funds have increased holdings from 4.60% to 4.82% in Dec 2021 qtr.
NSE:RELIANCELong
by deeptinseth
2
Inverted Head and Shoulder in Hindpetro.Stock has been in a down trend since june and was not able to give a break out. Price has tested the resistance zone 3 times and now is the fourth time it is trying to break. And during this process an inverted head and shoulder pattern is formed on the price chart. As we know that it is a reversal chart pattern, and we can see an upmove from here if price successfully breaks above the neckline and sustain there. From here if demand comes, we can see a huge breakout with above average volume, we can enter above 280 level and can put a stoploss below previous low which will be the right shoulder. If the price consolidates near the neck line it will be the best case secenario and will give a good risk to reward ratio.
NSE:HINDPETROLong
by anuragsahu614
2