Get started

Ongcbuy

Channel Breakout with Retest Formation, Targeting Strong UpsideDetails: Asset: Oil and Natural Gas Corporation (ONGC) Breakout Level: 270 Potential Target: 300+ Stop Loss: Below 270 or as per risk management strategy Timeframe: Medium-term Rationale: ONGC is displaying a classic channel breakout with a retest formation, signaling strong bullish potential. Sustaining above the 270 level may trigger a significant upward rally, with the stock poised for robust momentum. Market Analysis: Technical Setup: The breakout from the channel, followed by a retest, indicates a confirmed bullish pattern. If sustained, the stock is likely to see a sharp move upward. Sector Outlook: ONGC, being a leader in energy and oil exploration, benefits from rising crude oil prices and global energy demand. Positive macroeconomic factors further support the stock’s bullish potential. Price Target: Short-term: 300 Further Upside: To be determined based on momentum Risk Management: Place a stop loss just below 270 to safeguard against unexpected downside moves. Timeframe: Expected move to 300 and beyond in the medium term, driven by technical and fundamental catalysts. Risk-Reward Ratio: Attractive, with minimal risk near the breakout level and substantial upside potential. Traders should monitor price action and volume closely for further confirmation and adjust positions based on broader market trends.
NSE:ONGCLong
by CyborgTradingHub
ONGC Near falling wedge pattern 1: 8 Risk reward long setupOil and Gas sector retested the flag pattern breakout. ONGC also had retested breakout given earlier and last daily candle showing rise in volume with positive closing. ONGS also formed falling wedge pattern and we are near breakout of the pattern. I see 1: 8 potential up side trade. *SWING TRADE* Buy ONGC 285 Stop Loss: 279 Target 1 (1:2) 299 Target 2 (1:4) 313 Target 2 (1:6) 325 Target 2 (1:8) 340 _Duration 2-3 months_ Trade as per your risk-taking capacity.
NSE:ONGC
by pramodchoudhari
7
Bullish break out in the stocks for this week 08/07/2024.. ONGC is a government sector company is trading around the resistance zone. If there is a break out of the consolidation zone good returns can be captured in the stock. The stock has taken a good support from 20 ema which also gives a confidence to hold the stock for a swing trading. Even on the daily charts, the stock has test the 200 ema and chance of it clearing the resistance level is high. A round number figure of 300 can be seen as the next resistance as the stock will be trading in an uncharted zone after the break out. Kotak bank has been trading in a range and the upper resistance zone is around 2050 levels. The stock is currently trading around 1850 levels and has taken support from both the moving averages on the weekly charts. If the stock sustain the break out there are chance of it hitting the resistance level soon. The target for trading are there on the chart. Long term stock positions can also be created in the stock as it seems to show some bullishness. Wait for the price action near the levels before entering the market.
NSE:ONGC
by TheMamboMomentum
Breakout Alert: ONGC Channel Breakout Above 300,Details: Asset: Oil and Natural Gas Corporation (ONGC) Breakout Level: Above 300 Confirmation: Channel breakout with increasing volume Targets: 320 and 340 Stop Loss: Below breakout level or as per risk tolerance Timeframe: Short to medium-term Rationale: ONGC has broken out above the upper boundary of its trading channel at the 300 level. This breakout is supported by increasing volume, indicating potential bullish momentum. The targets for this move are set at 320 and 340, considering the continuation of the upward trend. Risk-Reward Ratio: Depends on individual risk appetite and stop-loss placement. Remember to conduct thorough analysis and implement appropriate risk management strategies before initiating any trades.
NSE:ONGCLong
by CyborgTradingHub
ONGCONGC (Daily): 1. Stock has given Breakout from Ascending Triangle 2. RSI= 67 (bullish sign) 3. Good volumes on Breakout 4. Stock has reversed from 20 Days Exponential Moving Average 5. Stock has broken 52 Week High View Point: 1. Some Quantities of the stock can be added on some retracement for Long Term and some quantity can be added at current levels. Addl Points: 1. FII/FPI have increased holdings from 8.08% to 8.87% in Dec 2021 qtr. 2. Mutual Funds have decreased holdings from 6.52% to 6.19% in Dec 2021 qtr Note: 1. The above analysis is just for educational purpose.
NSE:ONGC
by deeptinseth