ONGC: Rewards of following Technical Analysis (10% in a week)😀ONGC
On June 2nd 2021, When price was at 116.80, this is the chart that was posted
Pattern observed was a Cup & Handle Chart pattern and the target given was 128 / 136
Come June 09, 2021, Charts help us garner a 10% gain without much pain... 😀
If you do your homework well, rewards will be there...
Happy learning and happy trading...!!!
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ONGC
ONGC - PRICE ACTION ANALYSIS💲💲 FOLLOW me @Averoy_Apoorv_Analysis and get these free analysis :) 💲💲
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
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➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
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ONGC – TrendLine Beakout on Monthly Chart
ENTRY: CMP (126.5) breakout was 121.2
Target1: 168
Target2: 234.4
Target1: 293.25
Stop Loss : 118.8 (Weekly Close). Deep SL 104.15
Will Update Trailing Stop loss whenever required.
Duration : 4-5 Years
Stock has broken Monthly Trend line which started from Sep 2014.
Also last week close was above 121.2 which was Previous Support on Monthly chart same should have acted as resistance which didn’t happened hence script is showing good strength.
Heavy Volume also seen last few month, signaling accumulation phase over or almost about to end in this script.
Fundamentally Co has good record of making consistence Profits for its share holders.
Cash Flow Statement has been consistently growing hence Co is able to give good Dividend over years.
Dividend yield is around 4%.
Debt to Equity 0.5 times (favourable)
Book Value 167 vs CMP 125 (Available at discount)
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
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► ADVANCE PATTERN #17: ONGC ◄► ADVANCE PATTERN #17 ◄
📌 Levels are mentioned on chart for ❝Swing trading❞. These are original and unique patterns that can achieve their target almost 80-90% times. Here, I have posted one of my favourite 💕 chart patterns.
☆ Please check the description section ⌨ for early entry level in given stock ₪ to get better Risk to Reward (☈☈) ratio.
☆ Kindly ❤ like & share ➥ this pattern. Comment ⎚ with what do you think. Follow me @ tradingview for more updates and announcement 📣 regarding stock analysis.
▣ Key Highlights:
➟ Time frame Weekly Ⓦ
➟ Horizontal Resistance ≕
➟ Trend line ⍩
➟ W Pattern Ŵ
➟ Flag Pattern 🎌
➟ EMA 400 ↝
➟ Unique Confluence Ⓤ
📌 Levels are:
Entry: ▲ 129
SL: ✘ 115
Target: ➚ 160/180
RR: ☈ 1:2.5
Return: 20%+
Do your own study before Trade!!!
Thank you. Happy Trading!!!
Best Regards,
𝘿𝙧. 𝙎𝙝𝙖𝙢𝙧𝙖𝙟𝙖 𝙉𝙖𝙙𝙖𝙧
𝙋𝙝𝘿 𝙞𝙣 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮.
✬ Disclaimer ✬
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Oil and Natural GasCan you see it?
It clearly shows cup and handle.
Wait for a bullish candle at support.
keep a watch on this stock, we could see a massive movement from this position.
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Happy Trading 💪
Disclaimer: This is my personal analysis for educational purpose. I am not sebi registered. Do your analysis before taking a position. I am not responsible of any profit or loss.
ONGC might have multiple breakoutsONGC could break its previous swing high in shorter term . In longer time frame it is also trying to break the 2018 trend line on which is has been taking resistance . Worth tracking this for June 2020. Lot of resistance on it way forward but crossing 125/130 wud be a healthy sign for ONGC