NSE:ONGC
Expecting the ONGC to reverse from the Top of Channel @ 138 to 140 and Reverse to a Level of 120 in Few weeks.
Disclaimer - Its not a Recommendation to buy, sell or Hold
ONGC
- the stock looks good especially on any dips
- The stock has given a breakout on monthly chart (Breakout zone 115-118)
- Short term Target 150 / 157 / 169
- Medium term target 196 / 212
Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114.
Our...
I have taken a long position on ONGC on 17-9-2021
The reason for taking a long position was a demand zone that was created between 125.38 to 121.10.
It is also trading in a channel, so my target is the upper trend line which also fulfills my 1:2 target.
My entry point: 125.40
My Stop Loss:121.10
My target: 134
I will update once SL or Target gets hits
WARNING:...
Crossed the previous resistance(120 levels) after a previous breakdown from it.. and retested the resistance now acting as support.
News: gas prices can see a hike of rs75 per cylinder that can increase the revenue of the stock therefore we can see upmove in stock.
Within a rising wedge, price, from support has broken out of an internal trendline & is ready to move further up above 124.4. Target will be the limit of the range at 132.5. SL - 117.1
Yea yea, I know Oil is most manipulated commodity on the planet.
But amidst the super consolidation worldwide, the most suppressed commodity is oil, and the hurricane supply chain destruction will annihilate the supply.
We should see sharp rise in Brent Oil futures in coming days. It’s inevitable.
I have given a range of targets from moderate to aggressive....
As you all can see what the chart is showing, we can make long positions for upcoming trading sessions.
Go with the cahnnel and sl below previous candle. Do your own analysis as well.
ONGC rallied from around 100 levels back in April to about 128 odd levels in June. Since then it has corrected down to 112 and seems to be taking support there. From there it is improving its structure and trying to create higher lows. It has completed a 50% retracement of that rally from 100 to 128, all the while travelling in a downward channel but now it seems...
ONGC
CMP 119.55
This is what was mentioned on 11 Aug
It was highlighted that momentum might come above trendline. Today it crossed that trendline.
Looks like the stock has finally given a breakout
Target of 129/ 133 is on
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F&O strategy
One may Consider buying 120 Call option in the range of 2.8 -...
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis
ONGC
Levels mentioned in the chart
Best regards
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...
