ONGC looks good to buy above 275giving trendline breakout and once above the resistance can be bought above 275 with short term target of 290
ONGC trade ideas
Oil Natural Gas Corporation Ltd view for Intraday 10th Jan #ONGC
Oil Natural Gas Corporation Ltd view for Intraday 10th Jan #ONGC
Resistance 270 Watching above 271 for upside movement...
Support area 260 Below 265 ignoring upside momentum for intraday
Watching below 259 or downside movement...
Above 265 ignoring downside move for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
ONGC RESISTANCE BREAKOUT WEEKLYONGC breaking long time resitance weekly basis
with strong volume building last 2 week
breaking 20 wma,rsi in bullish zone
macd crossover about to happen
#target1 300,breaking 300 #target2 344
NO BUY/SELL RECOMENDATION
7th jan ongc for intradaytoday oil and gas sector will perform
buy ongc in zone 254-259
stop loss at 252
intraday target will be 262-264-267++
this is intraday now swing happy trading
ONGC: Prepared for a 20% RallyThe chart of ONGC provides delineates critical price thresholds that signify breakout point, along with specific support level that serve as indicators of where buying interest may manifest.
Additionally, the chart highlights regions likely to act as resistance point for future price ascension, allowing for informed decisions on entry and exit strategies.
Disclaimer: The information contained in this technical analysis report is intended solely for informational and educational purposes. It should not be interpreted as financial advice or a recommendation to buy or sell any security. Investors are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
ongc buy call daily frame 06012015ongc buy call daily frame 06012015, breakout happends at horizontal and downtrend.. so looking for upside for ONGC
ONGC Stock Looks to be in Momentum Right NowONGC stock has just made a trendline breakout and is above 50 EMA and RSI is also near 60, so the stock is still in momentum and is entering around 250, which is placing the stop loss as per the past performance. is 232 and its target is 298.
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.
Ongc looks good for Budget around 259-262 levels After a good correction in ONGC it can be a good buy candidate looks good in the range 259-262 with sl around 253-254 levels for a target of 275+++ 282+++ 289+++ 302+++ and soon Maintain proper sl and trade as per your risk apatite
ONGC - Great Price Action Stock to Study!Retracement would be better with that said aggressive entry can also be found in the Daily time frame.
I will be posting the same in the follow-up trade soon...
- Stay updated for further insights and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
Natural Gas sector for self referenceSharing price movement across natural gas sector for self reference.
1 -1.5 year down
1.5 - 2 year up pattern
Not an Investment advice. only for self research purpose
ONGC LOOKING BULLISH ONGC LOOKING BULLISH on daily timeframe waiting for box Breakout Target is next Resistance
Ongc bullish view Ongc after good correction almost 30% .. stock is running daily inside pattern . 260.5+ daily breakout leads to mother candle move ..almost 12 point mothercandle .. so above 260.5+ minimum target 270-273
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.
