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Ongclong

Simple Trade Setup | ONGC | 09-12-2021 [ INTRADAY]NSE:ONGC Observations: 1) On 1Day time frame, we can see that it faced resistance from 21DMA and it is between 10DMA and 21DMA. 10DMA is placed at 145.82 and 21DMA is placed at 150.19 level. Breakout on either side will give good move. Please refer below chart : 1 day Time Frame. 2) Also on 1Day time frame, we can see that it is trading in flag of "bullish flag and pole" pattern. If it gives sustainable breakout of this pattern then we can see a good bullish upmove. Please refer below chart : 1 day Time Frame. 3) Also on 1Day time frame, we can see that it is forming Rounding bottom or Cup and handle pattern. Immediate breakout level is at 150 and major breakout level is at 160 level. Immediate support is seen at 140 level. Please refer below chart : 1 day Time Frame. ------------------------------------- Trade Setup for Date: 09-12-2021 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:ONGC
by Trading_hawk
5
ONGC: Long Analysis.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 to be breaking out of it. _______________________________________________________________________________________________________________________________________________________ One could try to go long keeping the following levels in mind. Do initiate the trade only when you observe that the price is sustaining above the "LONG ABOVE" level for some time. LONG ABOVE: 118.50 STOP LOSS: 114.85 TARGET 1: 122.15 TARGET 2: 125 _______________________________________________________________________________________________________________________________________________________ Manage risk properly and trade your plan. Like and follow for more. :)
NSE:ONGCLong
by Tradeception_
2
ONGC - Trend reversalONGC seems to have a reversal bull candle from the bottom of the triangle pattern, so give an entry with appropriate Stop loss 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:ONGCLong
by PrakWorld_Traders