A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock.
It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami.
1. The market is characterized by a prevailing downtrend.
2. A red body is observed on the first day.
3. The Doji that is formed on the second day is completely...
A possible short for this week, if it breaks the blue line .
Take positions according to strategy and risk tolerance.
Don't blindly follow the lines, support resistance, etc. Do due diligence.
Might as well take support.
Let's see how it behaves.
ONGC has been trading in uptrend respecting support and resistance, it has already touched the uptrend channel resistance and approaching channel support. Traders may go short with a target of 290-292 in near term.
ONGC has been continued to uptrend it has retested the fibo 23% level multiple times but unable to trend reversal. It is technically looking strong enough to continue up trend, we may see further upside movement up to the target of 293 as first target and wait for breakout if it breaks then go further long. alternatively if it breaks 271 downside then it will head...
OMGC approaching a target of 270.00 to its trend support, trader may go short till 270.00, if it breaks 270.00 level then it may go to next target 242.84 which is seems strong support. alternatively if it bounce back touching 270.00 it will further go upward with a target of 295.00
Price is in a strong uptrend in the daily chart. The immediate support is highlighted in the 15-min chart. Will the slide halt at this support?
Your Guess is as good as mine. Let price play its card first, we can always react based on that. No Guess Work.
It is been observed that the price action on daily chart formed two channels. Firstly a downward trending channel and secondly the upward moving channel. Indicating price change movement and change in control of dominance over price actions. Channels are powerful tools when it comes to finding trend. Therefor I would highly recommend to beginners to practise it...