Here In this chart, the stock is moving near the support line. No crashes are there for short periods of time. Bollinger bands are at their half position. We could expect big bullish candles in near future. You can buy it for a long.
Keep trading, at least try paper trading. Have a profitable next day. Don't forget to follow. And If there are...
As clearly seen, stock has completed the inverse head and shoulders pattern on weekly charts and is ready to give a breakout if it breaches the current market price. Fresh position can be taken on these levels with the stop-loss of 85 for the targets of 135 from here.
ONGC, The Maharatna with second largest MARKET CAP in PSE, is trading at good valuation. Our strategy for trading it as follows:-
Enter ONGC at CMP: 100
Short term target 112.5 (within 5-8 trading sessions) 12.5%
Long term target 130 (within 2 months)
The SL can be placed at 89.5
Monthly, weekly and daily charts present a clear bullish trend while forming the Inverse Head and shoulder pattern. Lately the stock showed a good upmove with a long candle breaching the monthly resistance and reaching 4300 level.
Entry can be made for a Long position at current price: 4300-4320, with target of 4750, and SL of 3900.
ONGC, fundamentally strong company..
It has made a channel breakout in the daily chart pattern..
It might go upto 200+
target 1 : 195
target 2 : 200
target 3 : 203+
Apparently, Risk Reward ratio is also suitable....
Note: Do your own study before making any positions...
Please Like, Follow and comment your views below .... :)