ONGC trade ideas
ONGC Trading Within Demand Zone of ₹278.9-₹273.05ONGC is currently priced at ₹278.2, trading within a demand zone defined by ₹278.9 as the high and ₹273.05 as the low. This area has previously seen buying interest, and investors may anticipate further movement either towards resistance levels or a potential consolidation. This zone has been tested before, providing insight into market behavior around these price points.
ONGC Near falling wedge pattern 1: 8 Risk reward long setupOil and Gas sector retested the flag pattern breakout.
ONGC also had retested breakout given earlier and last daily candle showing rise in volume with positive closing.
ONGS also formed falling wedge pattern and we are near breakout of the pattern.
I see 1: 8 potential up side trade.
*SWING TRADE*
Buy ONGC 285
Stop Loss: 279
Target 1 (1:2) 299
Target 2 (1:4) 313
Target 2 (1:6) 325
Target 2 (1:8) 340
_Duration 2-3 months_
Trade as per your risk-taking capacity.
ONGCONGC is currently trading at 281.6, near a key support trendline. A short-term buying opportunity is anticipated, with a potential upside target of 301. If the price holds above 301 for a sustained period, it could signal the beginning of a new bullish trend
"Exclusive ONGC Support & Resistance Levels for 16th October16 October ONGC Support & Resistance Levels
I genuinely want to share that I have never marked levels in ONGC before, but yesterday, someone requested me to do so and asked, "Sir, please mark the levels for ONGC." So, I am sharing these levels with you:
Support Level: ₹282.60
Resistance Level: ₹285.15
Thank you.
ongc stock is at the end of accumulationg zonehello ongc stock has been last few days consolidation the stock has been accumulated
and now the stock is at the end of the accumulation stage. The price will move higher in the upcoming days
do your own analysis don't enter blindly, and follow the risk management.
ONGCDate 09.10.2024
ONGC
Timeframe : Day chart
Remarks :
1 Breakout = Inverted rounding cup exit + 61% of Fibonacci
2 Breakdown = Inverted rounding cup neckline + 50% of Fibonacci
3 Bounce after breakdown would be support zone 1 & 200 ema confluence
Regards,
Ankur
Should u buy this correction?ONGC CMP 295
The stock has corrected 20% from the top. Is this correction an opportunity to buy??
Elliott- I can see 5 waves, hence the C leg of he correction is done. Here the v th wave is a failure.
Fib- The correction has halted at 61.8% of the swing, hence the trend is intact. Above 302 this stock will move up sharply.
Volume- falling volume is confirmation of a correction.
RSI - +ve divergence at support is a reversal signal. The break of the trendline and retest is a confirmation of the change. Taking support above bull zone is strength.
Directional Signal- The 5th wave failure has made a double bottom. Which is a directional buy signal. Directional signal means this signal alone is enough to buy this counter.
Previous highs- previous highs act as strong support. The double bottom is at the previous highs indicating strong support.
Conclusion - We have enough reasons to buy this counter on this welcome correction.
ONGC wave analysisONGC in corrective wave ABC..
of which wave C(5) in progress..
ONGC has cluster of fibonacci ratio support near 281.
and below that next support is 270
Till now low made 282.50
Upside immediate resistance is 302-305
Currently trading sideways..
Buying opportunity :
conservative view : Breaking of 0-2 trendline
Aggressive view : when ONGC makes low near support and MACD gives +ve Diversion.
Being its last C(5) wave so shorters should stay cautious now.
Disclaimer : I am not SEBI registered. Its just the elliott wave analysis posted on chart.
ONGC still pending a down move?According to Elliott Wave analysis, ONGC looks into last phase of its short term down move.
After trending impulse, the stock is into Flat Correction. Wave C of Flat correction should have 5 moves in it. And we can see 4 moves until now. So we can say ONGC is in wave 4 of wave C of Flat correction.
ONGC may go further down a little more to form wave 5 of wave C. This level may come at 61.8% retracement of the previous impulse.
This analysis is for educational purposes only.
Forecast on Primary 4 Corrective Pattern I have made efforts in forecasting existing Pattern Termination
i.e Wave A of Primary 4 as corrective pattern
Then i have also made an Forecast for reaction wave as Indicated
i.e Wave B of Primary 4 which will be in zig zag Pattern of 5,3,5
One these pattern confirm as per forecast I will look for Primary Wave 4 C wave
Hope this gives an idea how the Stock can move in Near futures
This is education content as Per my Personal Knowledge
Thanks
ONGC u shape recovery- u shape recovery following 11 years of consolidation.
- retesting break out point around 275
- if this stock sustains above the breakout line the stock may go for bull run
This analysis is my own idea.
I don't recommend taking trade based on this idea.
consult your SEBI registered adviser to Know the market risk before trade.
in.tradingview.com
ONGC - Ready to fly. A good time to buy ONGC Futures; Call Option (CE) 300 Oct , can be considered too.
ONGC Charts looks good 👍.
Double Bottom formation breakout possible in coming days.
Good entry above 302.
ONGC BULLISH READY TO FLYin this stock was retracement from day fvg and now re testing the bullish FVG tgt 320 above
ONGC | Chart Analysis | Demand & Supply ⭕️ Swing Trading opportunity: Price Action Analysis Alert !!!⭕️
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ONGC Levels On One Day Time Frame👑ONGC👑
At important support level
Looking good for reversal
Stoploss 263
Looking good towards 320/350
Keep on radar
For Oil and Natural Gas Corporation Ltd (ONGC), here are the key support and resistance levels based on recent data:
1 day Timeframe:
Resistance Levels:
R1: ₹292.40
R2: ₹300.00
Support Levels:
S1: ₹283.25
S2: ₹275.00
ONGC Support and Resistance (MTF Analysis using magical levels)ONGC Support and Resistance (MTF Analysis using magical levels)
ONGC 5% Move aboe 306 (hourly closing ) with 1% Sl
Levels in ONGC "Welcome to SkyTradingZone "
Hello Everyone 👋
Levels in ONGC:
Level 1: Assistant Technician (AT) - ₹21,260 - ₹54,270 per month
Level 2: Technician (T) - ₹24,900 - ₹63,660 per month
Level 3: Junior Assistant (JA) - ₹28,440 - ₹72,900 per month
Level 4: Junior Engineer (JE) - ₹31,090 - ₹83,120 per month
Level 5: Assistant Engineer (AE) - ₹33,540 - ¥93,760 per month
Level 6: Senior Engineer (SE) - ₹37,690 - ¥104,420 per month
Level 7: Senior Manager (SM) - ₹44,990 - ¥121,020 per month
Level 8: General Manager (GM) - ₹51,910 - ¥137,630 per month
8th Hour Wages:
The hourly wage for an ONGC employee at Level 8 is approximately ₹1,232 per hour.
ONGC is bearish yet bulllish Please consult your financial advisor before investing.This is only for learning purpose of chart.
We are NISM certified EQ and MCX trader but not SEBI register investment advisor.
ONGC is bearish in trend but crude is expected too rise so we can get a swing upto 7-9% in 15-20 Days...
ONGCongc its a oil company, after a fresh breakout, cant sustain 340 levels and falling from it, next buying place for ongc is 265-270, for the target 425/500, good for accumulating this stocks in SIP manner,
