ONGC is trying to break the Bullish Rectangle pattern.
Buy above 164, but volume confirmation is crucial. Stop loss at 153.
The target is set by XABCD bearish crab pattern and bullish flag pattern.
Happy trading :)
This is just for educational purposes.
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...
ENTRY: CMP (126.5) breakout was 121.2
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...
HERE I SEE ON ONGC CHART 1 DAY TIMEFRAME THERE IS A CUP HANDLE PATTERN AND IN THE CURRENT PRIZE ONGC HAD A STRONG RESISTANCE ZONE I WILL MARK IN ECLLIPSE.
SO WHEN THIS LEVEL IS BREAK WE HAVE TO BUY THIS.
The Stock was Trading RS. 97.65, which is still 10 percent away from its 50-Week high of Rs.109.75.
Stock Have Potential to achieve Rs. 105.85 Target
It's making Pyramid
Buy between 96.50-97
target 102.35 intraday
target 105.85 within 2 3 day
Price making ascending triangle and will break up side in the coming days. Trend line support was the perfect buying opportunity now the second chance will come when price closes above 93 which is the resistance for this pattern.