ONGC - Parallel ChannelNSE:ONGC
Expecting the ONGC to reverse from the Top of Channel @ 138 to 140 and Reverse to a Level of 120 in Few weeks.
Disclaimer - Its not a Recommendation to buy, sell or Hold
ONGC trade ideas
ONGC: Monthly Breakout... Would it break free???ONGC
- the stock looks good especially on any dips
- The stock has given a breakout on monthly chart (Breakout zone 115-118)
- Short term Target 150 / 157 / 169
- Medium term target 196 / 212
Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114.
Our view on 22 Dec, when the price was 90, we had again reiterated a buy
June 2, 2021, when the price was 118 we had a buy call for a Cup and handle target of 128
August 11 and Aug 30, 2021, again a buy was recommended ( once it triggered a SL and next time it hit the target)
We have a history in recent times and our view may be influenced. Also our cost of acquisition is much much lower.
So Please do your due diligence especially if you are considering ONGC for the 1st time at current levels.
Take care & safe trading...!!!
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Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
ongc on break out go for longongc near upper side break out
stoks good on chart
near breakout in long time chart frame
with good volume enter
Breakout in ONGC on weekly chartONGC is about to breakout on weekly chart. It is ready to break it's 7 years trendline. Long opportunities can be seen in ONGC after 128-130.
I have taken a long position on ONGC I have taken a long position on ONGC on 17-9-2021
The reason for taking a long position was a demand zone that was created between 125.38 to 121.10.
It is also trading in a channel, so my target is the upper trend line which also fulfills my 1:2 target.
My entry point: 125.40
My Stop Loss:121.10
My target: 134
I will update once SL or Target gets hits
WARNING: THESE ARE MY PERSONAL VIEWS AND NOT TRADING RECOMMENDATIONS, I AM NOT RESPONSIBLE FOR ANY LOSS TAKEN ON MY VIEWS.
ONGC trading ideaIf the hourly candle closes above 128.5 then there is a chance of 4.5% up move in next 2 to 3 trading days with a stop loss at 124.8
RR is 1:1 so do you own analysis and take the trade.Else the script will be range bound between those two levels for the next 3 trading days
ONGCenter on pull back
113-120 Seems to be a good base to enter...
trading levels marked....
Happy trading..
Buy above and sell below for 3 % scalpinFollow the trend and keep correct stoploss 119 values for an uptrend of 3 % in 4 days if Monday close above 128.2
Blast on the way!!Crossed the previous resistance(120 levels) after a previous breakdown from it.. and retested the resistance now acting as support.
News: gas prices can see a hike of rs75 per cylinder that can increase the revenue of the stock therefore we can see upmove in stock.
ONGC BREAKOUT OF 7 YRS TRENDLINE *For educational purpose only. This isn't a call do your own analysis.
Stock has given Breakout of 7 years trendline resistance. Wait for retest.
Thanks!
#Breakouttrades....
ONGC | Range setupWithin a rising wedge, price, from support has broken out of an internal trendline & is ready to move further up above 124.4. Target will be the limit of the range at 132.5. SL - 117.1
ONGC long position can be madeAs you all can see what the chart is showing, we can make long positions for upcoming trading sessions.
Go with the cahnnel and sl below previous candle. Do your own analysis as well.
ONGC: Long Analysis.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 to be breaking out of it.
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One could try to go long keeping the following levels in mind. Do initiate the trade only when you observe that the price is sustaining above the "LONG ABOVE" level for some time.
LONG ABOVE: 118.50
STOP LOSS: 114.85
TARGET 1: 122.15
TARGET 2: 125
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Manage risk properly and trade your plan.
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