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ONGC | Rectangle Range Breakout | Daily🔥 Another strong breakout — this time from **ONGC** — confirming a **Rectangle Range Breakout** pattern. --- ## 🛢️ **ONGC – Rectangle Range Breakout** ### 📍 **Pattern**: * Consolidation in a **horizontal range** (Rectangle) * Strong breakout above ₹252 with **massive volume spike** * Target projected: ₹252 + ₹36.90 = **₹289** --- ### 📈 **Technical Highlights** * ✅ Price broke out with highest volume spike in months * ✅ RSI breakout above descending trendline * ✅ EMA 8/21/55/144 all in bullish alignment * ✅ Price surged >2% on breakout day with U/D days turning positive (25/25) --- ### 📊 **Volume & RSI Confirmation** * RSI breaking the bearish trendline = momentum returning * Volume bar way above average — **high conviction breakout** * Clean breakout after multiple rejections around ₹252 = **strong resistance flip** --- ### 🚀 **Trade Setup** * **Entry**: ₹252–₹258 zone * **Target**: ₹289 * **Stoploss**: ₹238 (or below range bottom for safe positioning) ---
NSE:ONGCLong
by DailyCharts03
2
ONGC B/O and retest. Rising fuel price may helpONGC Chart Breakout: A Fresh Opportunity? After months of downward movement, ONGC seems to have turned the corner. Here’s what we’re seeing: Breakout from a falling trendline Retest completed successfully Momentum is building up Higher lows indicate strong demand What’s the Game Plan? Entry Zone: Around ₹255–₹258 (current levels) Target 1: ₹270–₹275 Target 2: ₹290 Target 3: ₹315 Target 4: ₹345 (long-term) Risk Management Conservative Stop Loss: ₹245 Aggressive Stop Loss: Below ₹235 This helps manage risk in case the trade doesn’t play out as expected. Final Thoughts We’re seeing a technical breakout supported by strong price action and momentum indicators. While short-term volatility is possible, the structure looks strong for a medium-term swing. This is not a stock recommendation but a technical insight for educational purposes.
NSE:ONGCLong
by harshithshetty_
Oil and Natural Gas Corporation (ONGC)- LongOil and Natural Gas Corporation (ONGC) on a 15-minute timeframe from NSE, showing an Inverted Head and Shoulders (IHS) pattern. Let’s break it down: 1. Identification of Inverted Head and Shoulders Pattern Left Shoulder: The first smaller dip before the major drop. Head: The lowest point in the pattern, indicating the strongest bearish move. Right Shoulder: A higher low after the head, showing a potential reversal. Neckline: The resistance level that connects the highs between the shoulders and head. The breakout above this neckline confirms the pattern. 2. Volume Analysis Volume increases significantly during the breakout, confirming the validity of the pattern. The rise in volume indicates strong buying interest, which is a bullish sign. 3. Moving Averages (EMA) The price has crossed above the 200 EMA (purple line), which is a strong bullish signal. The short-term moving averages (e.g., 9 EMA, 21 EMA) are also trending upwards, further supporting the bullish trend. 4. Entry and Exit Points Entry: The best entry point is above the neckline breakout level, around 230-231, once confirmed with volume. Stop-loss: Place a stop-loss just below the right shoulder, around 224-225. Target (Exit Point): The projected target is calculated by adding the depth of the head to the neckline. This gives a target of around 243-244, which aligns with the previous resistance level (blue line). Conclusion The Inverted Head and Shoulders pattern is confirmed with a breakout and volume spike. Bullish bias as price has crossed above the 200 EMA. The price is likely to move toward 243-244 INR in the short term. This analysis is for **educational and informational purposes only** and should not be considered as financial or investment advice. Trading and investing in financial markets involve risk, and past performance is not indicative of future results. Always conduct your own research, consult a qualified financial advisor, and use proper risk management strategies before making any trading decisions. The author is not responsible for any financial losses incurred based on this analysis.
NSE:ONGC
by PowerOfTA
4
ONGC I OIL Burning Bright : Inverted H&S Pattern!!Hello Traders, - ONGC is trading at a place called AOI (Area of Interest) A place from where price usually reverses. - 218 levels is acting as a strong support pushing prices higher after a intraday low of about 3% making a big pin bar candle on 1D chart - Inverted head and shoulder on 15m timeframe. PRO TIP/- The Entry Line is the Neckline of the inverted Head and shoulder. Target 1:- 228 Target 2 :-231 Entry Criteria Strong Close above Entry Line (225) 15mins TF Stoploss Entry Candle Low (not more than 0.8%) Not an Investment Advise
NSE:ONGCLong
by REUBEN_EUSTACE
ONGC: Prepared for a 20% RallyThe chart of ONGC provides delineates critical price thresholds that signify breakout point, along with specific support level that serve as indicators of where buying interest may manifest. Additionally, the chart highlights regions likely to act as resistance point for future price ascension, allowing for informed decisions on entry and exit strategies. Disclaimer: The information contained in this technical analysis report is intended solely for informational and educational purposes. It should not be interpreted as financial advice or a recommendation to buy or sell any security. Investors are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
NSE:ONGCLong
by NiftyNotion
Channel Breakout with Retest Formation, Targeting Strong UpsideDetails: Asset: Oil and Natural Gas Corporation (ONGC) Breakout Level: 270 Potential Target: 300+ Stop Loss: Below 270 or as per risk management strategy Timeframe: Medium-term Rationale: ONGC is displaying a classic channel breakout with a retest formation, signaling strong bullish potential. Sustaining above the 270 level may trigger a significant upward rally, with the stock poised for robust momentum. Market Analysis: Technical Setup: The breakout from the channel, followed by a retest, indicates a confirmed bullish pattern. If sustained, the stock is likely to see a sharp move upward. Sector Outlook: ONGC, being a leader in energy and oil exploration, benefits from rising crude oil prices and global energy demand. Positive macroeconomic factors further support the stock’s bullish potential. Price Target: Short-term: 300 Further Upside: To be determined based on momentum Risk Management: Place a stop loss just below 270 to safeguard against unexpected downside moves. Timeframe: Expected move to 300 and beyond in the medium term, driven by technical and fundamental catalysts. Risk-Reward Ratio: Attractive, with minimal risk near the breakout level and substantial upside potential. Traders should monitor price action and volume closely for further confirmation and adjust positions based on broader market trends.
NSE:ONGCLong
by CyborgTradingHub
ONGC Near falling wedge pattern 1: 8 Risk reward long setupOil and Gas sector retested the flag pattern breakout. ONGC also had retested breakout given earlier and last daily candle showing rise in volume with positive closing. ONGS also formed falling wedge pattern and we are near breakout of the pattern. I see 1: 8 potential up side trade. *SWING TRADE* Buy ONGC 285 Stop Loss: 279 Target 1 (1:2) 299 Target 2 (1:4) 313 Target 2 (1:6) 325 Target 2 (1:8) 340 _Duration 2-3 months_ Trade as per your risk-taking capacity.
NSE:ONGC
by pramodchoudhari
7
ONGC wave analysisONGC in corrective wave ABC.. of which wave C(5) in progress.. ONGC has cluster of fibonacci ratio support near 281. and below that next support is 270 Till now low made 282.50 Upside immediate resistance is 302-305 Currently trading sideways.. Buying opportunity : conservative view : Breaking of 0-2 trendline Aggressive view : when ONGC makes low near support and MACD gives +ve Diversion. Being its last C(5) wave so shorters should stay cautious now. Disclaimer : I am not SEBI registered. Its just the elliott wave analysis posted on chart.
NSE:ONGC
by MDstockmagic
1
ONGC | Chart Analysis | Demand & Supply ⭕️ Swing Trading opportunity: Price Action Analysis Alert !!!⭕️ 💡FNO Stocks Trading📉📈📊 ✅Check out my TradingView profile to see how we analyze charts and execute trades. ✅We can't conduct a thorough analysis in such a short span of time. We need to review it, post our findings, and then take action. 🙋‍♀️🙋‍♂️If you have any questions about this stock, feel free to reach out to me. 📍📌Thank you for exploring our idea! We hope you found it valuable. 🙏FLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:ONGC
by ReviveTraders
1
Levels in ONGC "Welcome to SkyTradingZone " Hello Everyone 👋 Levels in ONGC: Level 1: Assistant Technician (AT) - ₹21,260 - ₹54,270 per month Level 2: Technician (T) - ₹24,900 - ₹63,660 per month Level 3: Junior Assistant (JA) - ₹28,440 - ₹72,900 per month Level 4: Junior Engineer (JE) - ₹31,090 - ₹83,120 per month Level 5: Assistant Engineer (AE) - ₹33,540 - ¥93,760 per month Level 6: Senior Engineer (SE) - ₹37,690 - ¥104,420 per month Level 7: Senior Manager (SM) - ₹44,990 - ¥121,020 per month Level 8: General Manager (GM) - ₹51,910 - ¥137,630 per month 8th Hour Wages: The hourly wage for an ONGC employee at Level 8 is approximately ₹1,232 per hour.
NSE:ONGCLong
by SkyTradingZone
Long on ONGC for Long termThe stock reached ATH of 314.55 on 9th June 2014. It then fell by almost 84% to reach 50 on 13th Mar 2020. It took support at the lower trend line to reach high of 194.95 on 8th Mar 2022. It faced a correction of almost 38% reaching a 52W low of 119.85. on 6th July 2022. Recently, it took support from lower end of the channel rising nearly 33.62% in 9 months. Recently it gave a breakout from upper resistance trend line with a large bullish candle rising 4.35% on 10th Apr 2023. The stock is trading above all short term as well as long term moving averages.RSI is above 60, which indicates bullishness. Maintain a Stop Loss of 150.55 on daily closing basis. Potential: 28% to 60%
NSE:ONGCLong
by finvestar
Bullish break out in the stocks for this week 08/07/2024.. ONGC is a government sector company is trading around the resistance zone. If there is a break out of the consolidation zone good returns can be captured in the stock. The stock has taken a good support from 20 ema which also gives a confidence to hold the stock for a swing trading. Even on the daily charts, the stock has test the 200 ema and chance of it clearing the resistance level is high. A round number figure of 300 can be seen as the next resistance as the stock will be trading in an uncharted zone after the break out. Kotak bank has been trading in a range and the upper resistance zone is around 2050 levels. The stock is currently trading around 1850 levels and has taken support from both the moving averages on the weekly charts. If the stock sustain the break out there are chance of it hitting the resistance level soon. The target for trading are there on the chart. Long term stock positions can also be created in the stock as it seems to show some bullishness. Wait for the price action near the levels before entering the market.
NSE:ONGC
by TheMamboMomentum
DIVISLAB and ONGC showing high rise in Future OIDIVISLAB The price has been consolidating in a narrow range for more than a year. Recently, the price successfully surpassed its resistance level. Since the breakout, the price has maintained above the breakout point and is steadily increasing. The current RSI is above 60, suggesting strong buying pressure. ONGC Before, the price was rising steadily, pushing the highs and lows higher. Since March’24, the price has entered a consolidation phase, and an ascending triangle pattern has been established. A breakout with significant volume has occurred recently. The RSI is currently above 60, indicating strong buying pressure.
NSE:DIVISLABEducation
by GoodluckCapital
1