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ONGC

#BPCL #HINDPETRO #IOC #OIL #ONGC #PETRONET #PETROL #BITCOIN #NSE#BPCL Bharat Petroleum Corporation Limited. CMP: 399 TARGET: 436 // 478 G-O-I undertaken stock is in limelight, BPCL. As the state run petroleum company plans for divestment, there is going to be a lot of opportunities for retail investors and traders. Govt. plans to sell off almost 53% stake from the company and it receives MULTIPLE bids. Stock is expected to have a strong valuation and would be expensive from the current rates. There are various reasons to invest in this stock. 1. Trend Analysis: The stocks is in pace to reach highs. Running in uptrend, climbing ladders, step-by-step. Steadier and stronger with each end of the day prices. 2. Fibonacci Retracement: Retracing from 50% levels to make higher highs. Supports acting strong and giving a better push upside again and again. 3. Moving Averages: All the moving averages running alongside. All the bigger moving averages below the prices gives the candle more strength to be firm and erect. Bears fears. Prices fear to fall. 4. Pattern: Prices are making higher lows to show the pictorial representation of price trend. Making a Bullish Wedge kind of pattern with periodic time span. 5. Volume: Extremely large volume trading has been encountered in the stock. The huge Volume is representation of higher investors' money flowing in towards the stock. The huge Volume candles along with huge BULLISH Price Candles represent the strength of BULLS. 6. Momentum: The stock being in news, a large number of traders rush towards it and make various analysis to get the intrinsic value. The higher the bidding value, the higher is the price. The bids create excess of demand for the stock and thus price moves upside. The stock has just got the momentum. A rally is expected soon. 7. Strong Bull and Weak Bear: The Bullish candles are mightier and look like "katana". Big Bull candles show the presence of demand over and above supply, and thus a potential for upside. On the contrary, the bear candles are small and of less volume. Explaining the distribution and consolidation of previously purchased shares. Go ahead with the stock, with a limited down side risk. SL: 385 RR Ratio: 1:2 // 1:5 If you like my work, kindly LIKE the post, SHARE it with your friends and family, and FOLLOW the page to get free stock recommendations frequently. Thankyou!
NSE:BPCLLong
by Rachit_Sethia
ONGC: 2nd Opportunity to Buy...!!!ONGC Closing Price 90.55 - The stock chart pattern was identified at levels of 67 and we have seen a stupendous rally - the current correction has brought it back to 38.3% Fibonacci retracement levels which if held can push the stock back to 100+ levels - a close below 87 levels may take the stock to 80 odd levels - since December 14th, Open Interest in Futures data was on a decline. However today we witness a 11.56% surge in Open Interest and closing has been above day's average - the way we see it, charts and data analysis suggest it still has unfinished business and can take the stock higher to at least 114 odd levels. - at current levels and on further dips, stock provide good risk::reward ratio and one may consider to enter from medium term perspective If you find the analysis helpful Do hit the Like button Follow for more such ideas...🙏🙏 Take care & safe trading...!!! Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:ONGCLong
by indiamarketoutlook
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