ONGC: SELL at 151.5 Stop-loss 157 Target of 139ONGC was sold on NSE with 5x more volumes than average.
SELL ONGC at 151.5 with Stop-loss of 157 and Target of 139
ONGC
ONGC - Cup & Handle BO- Daily ChartONGC
Wait for BO with volume 181.50 price.
Resistance: 192, 194.35, 212
Support: 172.9, 166.9
ONGC: The BreakOut TradeHi
I was looking for a harmonic pattern completion (on the downside) before getting involved in this stock. But the stock changed my bias by breaking above a falling trend line (red) and the cup and handle pattern neckline.
Long Idea
The Risk
For getting into this trade, the risk could be (traditional) low of the handle (162) or the more aggressive 170 (calling it a breakout failure).
Profit Targets
If this break holds (the stock sustains above 175), it may easily get us to 180-182.
Move above 182 will take the stock to 189, where it may face resistance.
The Cup and Handle Target comes at around 193 which is also a historical resistance.
Short Idea
Although the setup looks bullish, we never know what's gonna happen in near future. So one should get ready with a plan B.
If this breakout fails and the stock starts trading below 170, we may look for an aggressive short.
The Risk
We ll not keep this short above 177
Profit Targets
First target would be 163.
Below 161, we may look for 155
# In this case I may also consider the pattern completion on higher time frame (wait for update).
Let's see how this trade proceeds.
Enjoy the weekend.
Regards.
ONGC monthly chart study1) ONGC has broken the major support and now making a pullback.
2) Current bullish move appears to be a pullback and not reversal. Hence fresh buying has to be avoided for long term positional buyers.
3) The major trend line could now act as a resistance.
4) On day chart ONGC has broken the falling channel top.
ONGC1) Listing of ONGC Videsh on foreign exchange will reprice the stock
2) Iran sanctions coming up in Nov 2018 ; which shall increase global crude price
3) Stock has been undervalued for long time because of HPCL takeover and possibility of govt levying oil subsidy
4) stock has broke 5 months trendline with good volumes5
SL -170 Risk reward ratio looks favorable
BUY "ONGC" AT DIP WITH THE GOOD SUPPORT AREA @164Buy "ONGC" at good support area @164 & now it's above the "15 EMA" + At the lower "RSI 58.8" Means Buying good stock at "Dip" or "Lower Price".
Central Bank Long Term ResistanceCentral Bank is testing long term support resistance level .
MACD bullish signs , good long opportunity once green line broken .
ONGC Testing LevelONGC testing long term resistance level .
MACD positive cross over .
Good long opportunity once goes above the green line .
short ONGC below 155 sl 160 NSE:ONGC is trading around its 52 week low and trend is down .....i will look to short if it closes below 155 sl 160
My PredictiveEngine's Intraday call(08-Jun-18)-ONGC-LongBased on my PredictiveSystem's signals, its going to be a GREEN candle on 08-Jun-2018 for ONGC
Buy Above: 173.1 for targets -
T1: 174.4
T2: 175.2
T3: 176
SL: 171.7
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
Short ONGC around 175 sl 180 trgt 150NSE:ONGC has printed a bearish pinbar around its resistance of 175 and also 50DEMA crossed 200DEMA
so double confirmation that price is likely to so south...
Trade with strict stoploss of 180..... i will look to short in future tmorrow and will update here
ONGC Short term viewONGC targets are same, patterns only different from previous post and stoploss updated
Vijayaraghavan,
Kovilpatti
Short ONGC around 183 sl 186 trgt 177NSE:ONGC has printed a bearish pinbar around its resistance of 184 ..... i will go short around 183 tomorrow....
you can see my related link ....i had completed up swing... as i mentioned in that trade
ONGC short term viewBreakout and indicators are slightly positive in day chart
Vijayaraghavan
Kovilpatti
long ONGC around 177 for trgt of 184 sl 173 NSE:ONGC has printed a bullish pinbar around its support of 175.....i will look to go long around 177 for target of 184 with stop loss of 173..
ONGC: SELL at 178.5 Stop-loss 184.3 Target 170.4ONGC is in downtrend and with higher volumes on NSE. SELL ONGC at 178.50 with Stop-loss of 184.3 and Target of 170.40
ONGC 15Mins - ShortTrade using MedianLine & ActionReaction LinesPlease refer the chart for analysis and trade levels.
