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
eye on this script for going long only after range breakout given in chart
trade will be based then on range + trendline breakout
keep on radar
ones entering at cmp can add more on breaking rance
stop would be 186.5
disclaimer - trade @ own risk
Cmp - 142
Stop - Nil, Add on relevant dips
T1 - 150
T2 - 160, Review at 160
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
Not a SEBI registered advisor
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
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...
As one can see, very long-Term trend broken in ONGC share, stop loss also given as per my view and as well as I have mentioned resistance on chart as well, trade accordingly.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before...
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 seems to have a reversal bull candle from the bottom of the triangle pattern, so give an entry with appropriate Stop loss
***** 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...