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 🔴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...
Only for educational purposes. Levels and targets marked in the image. Learned technical analysis at Patil Share Market Institute Aurangabad, Maharashtra. Please share your views.
ENTRY: CMP (126.5) breakout was 121.2 Target1: 168 Target2: 234.4 Target1: 293.25 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.
AS WE CAN SEE IN THIS CHART THAT SHORT TERM TREND IS BREAK ALSO RSI MOVING TOWARDS SUPPORTS NEAR ITS 30 LVL - TG 106 REASONS LONG TERM SUPPORT-RESISTANCE ACT NEAR 106 PRICE, REVERSAL MIGHT BE SEEN BUT LESS CHANCES NEAR 112. - ALSO CROSS CHECK WITH ICHIMOKU CLOUD AND MACD. //IF YOU LIKE MY ANALYSIS THEN PLZZ FOLLOW ME AND LIKE//
Short term Sell if goes below 96 target-95,93 SL-99 Take position at your own risk.
Please follow the levels marked in the chart.
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.