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Ongctrend

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
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
#ONGC Support levels NSE:ONGC 📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns. 📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone). ******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
NSE:ONGCLong
by linesandlevels
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