double bottom formed after a long downtrend,
price broke the neckline and pattern got confirmed,
and then price retested the broken neck line and reversed
also hidden bullish divergence is seen in weekly.
sl - 65 pattern tgt - 108
in daily - price broke out of consolidation with good volume and closed above upper BB, now BB is expanding.
if we see the longer time frame, 1570-1605 was a resistance zone, which is crossed now, next level to watch for 1800-1810
one should ride the uptrend with a sl - 1509
in monthly, it is in strong uptrend, and has crossed 2008 peak and is in all time high.
in weekly, it is in strong uptrend and price is riding upper BB.
in daily, it has given a breakout with good volume and closed above upper BB and BB expanding.
one should ride the trend with a sl...
symmetrical triangle formation going on in daily and weekly
volatility decreasing and BB is squeezing, breakout to be followed soon.
since it was in an strong uptrend, upside breakout expected here.
safe traders should wait for breakout. Risky traders may enter with a sl - 91.
it is in a strong up trend in monthly and weekly time frame,
in daily, there was a breakout with good volume, now retesting, should reverse soon.
sl - 683, 1st tgt - 780, since its in strong up trend one should hold it with a trailing sl.
in daily, price broke out of congestion area with good volume,
also price broke out of horizontal resistance with good volume and BB is expanding .
sl - 4265, 1st tgt - 4630, once price goes to all time high , it ll be quite bullish
channel breakout with good volume, in 4H time frame. in weekly time frame it is in strong uptrend.
sl - below swing low - 508, tgt - previous swing high - 555.
also there is a cup n handle probability in daily
it is in a strong uptrend in monthly time frame.
in weekly, price recently bounced from uptrend channel support and horizontal support.
Also hidden bullish divergence seen in weekly.
so sl - 447, tgt1 - 551, tgt2 - 590
TECHNICAL -It is been observed on the WEAKLY chart that the stock is forming continuous higher top higher bottom and with a uptrend line and a triangular pattern which can breakout soon, but a MULTI YEAR resistance @120.
FUNDAMENTALS -Rise in tea prices will led to higher margins and profits, with passing of GST TEA & coffee sector is going to get a huge benefits...
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...
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