ONGC BULLISH MOVE
Ongc running in a progressive channel since Sep 22.
When price touched lower level of the channel it gave bounce of 13-25%.
Will ONGC repeat it again ??
Buy ONGC At Cmp 156.9
SL - 146 ( Weekly Closing Basis )
Target - 180/190
Cup & Handel Patern Breakout
BUY : ONGC
CMP :- 173
Breakout Price :- 180
Targate 1: 193
Targate 2: 208
Targate 3: 224.60
This call is only for education prupas only any PROFIT & LOSS I am Not responsible
Oil And Natural Gas Corporation Ltd (ONGC) break out level @Day time frame
News : Oil and Natural Gas Corporation Ltd | The company has signed six contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal.
Today watch ongc . Yesterday crossed with high volume and momentum
#ONGC Ascending triangle shared and it delivered handsome returns, checkout the result 8% in just 2 days 180 CE bagged 20k/lot.
Wish everyone bagged good profits, no need to share profit screenshots, just like the chart if u love the analysis.
Based on the likes of this post our next analysis will be posted, expecting atleast minimum.
#NSE:ONGC formed beautiful ascending triangle and good above 146, opened with good volume and consolidating now,
BO sustainability may give good momentum in stock, safe side marked support level.
Happy LEarning !!
here is the my analysis of ONGC Stock on daily time frame
if ongc break the resistance area and mantain above that then it can go up to till 177 to 180 mark
and if stocks come down and break is support zone and start closing below the support on EOD basis than come down till 151 to 154 price mark
buy and sell entry and stops are mention on chart
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
1. Some Quantities of the stock can be added on some retracement for Long Term and some quantity can be added at current levels.