ONGC Chart-Chance of a Correction Monthly Chart.
-Large volume required to break the Resistance.
-For Educational Purpose Only
ONGC trade ideas
ONGC - Short coveringAbove 126 expect plenty of short covering in ONGC..
The bears have been holding this stock price down for a very long time..going ahead its due a major upmove..
The 200WEMA crossover can be powerful.
Long above 126
SL 120
Target 140
BUY ONGC if break out is strong after successful retest.1. Cup and Handle Pattern Breakout
2. High Relative Strength
3. High relative volume than 2020
4. Rising Brent Crude Price
5. Fundamentals of ONGC are strong
Disclaimer: For educational purposes only
ONGC: Breakout from Accumulation Zone ONGC: 2 break-out have observed in the up-trend. The major one is a flag pattern that confirms the rally to the next stop of @140 nearly can achieve the target of 13% .
Points to be Note (Technical + Fundamental)
1. Stock is in an uptrend with Fibonacci levels ranging b/w 0.5 to 0.3 fast trend.
2. Relative strength is strong for the month.
3. There have been two breakouts that will lead the rally in the next few days
4. Sales have been soaring by 22% and the correlation to sales vs profit is decreased by 82% as compare to last quarter
5. Investing activities have increased too... nearly double from last year.
6. P/E is fairly decent 15.6 above 10 but the company deserves that.
7. ROE is 7% as compared to its peers having 10-13.5%.
8. D/E is half to industry levels.
Let me know in the comment section. What's your view on this
ONGC - REVIEWI JUST LOVE WATCHING CHARTS DANCE THAT'S ALL :)
💲💲 FOLLOW me @Averoy_Apoorv_Analysis and get these free analysis :) 💲💲
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<>>>>>
ONGC accumulatingONGC CREATING BEAUTIFUL FLAG AND READY FOR BREAKOUT, 3 TIMES TESTED 127 (RESISTANCE) AND CAME BACK TO ITS STRONG SUPPORT 122.9
ONGC ABOVE 125.5 WILL BE BULLISH.
PS: THIS IS MY PERSONAL VIEW, KINDLY CONSIDER IT FOR EDUCATIONAL PURPOSE ONLY.
ONGC FOR 300ABOVE 120 LOOKS GREAT
SL ACCORDING TO RISK TAKING CAPACITY { FINAL SL 109]
TGT 150,215,300
ONGC Gave a Breakout, can expect at least a 50% move?This guy gave a BreakOut after 11.5 years,
as we can see in the weekly Time frame it has broken out with a Strong MARUBOZU candle (which indicates a strong bullish candle).
We can enter keeping a strict SL below Descending Tl which is 115-113 (risk is as per our appetite).
This analysis is just for education purposes.
Before entering please ask your financial advisor.
Key Points.
> We will only enter in those setups where is the risk is very low.
> We will only entertain the highest probable trades/set-up.
If there is any doubt feel free to reach.
Thank you.
ONGCONGC
WEEKLY CHART
forming indarted head and shoulder
bullish rsi @ 67
bullish macd crossover
buy cmp @ 123 and add more near neck line
sl @ 97
target @ 198
ONGC MAKES HARMONIC PATTERN IN WEEKLY TIME FRAMEONGC BUY ABOVE-128
FOR LONG TERM SWING
TIME SPAN=4-8 WEEKS
My swing picksOngc break out a multi year down side Trend line in weekly candle . Now price is retesting the break out point . After the retesting if the price cross 128 a rally can be expected again
ONGC POSITIONAL TRADE OPPORTUNITY ABOVE 125 FOR TGT 150 180 210+Price is in continuous uptrend broken out important horizontal level of 120-122 with very strong candle & nice volume support
POSITIONAL TRADE OPPORTUNITY (4-6-8mnths holding)
BUY @ 125 SL 100 TGT - 150, 180, 210+
ONGC Swing Trade OpportunityOn Daily Chart Frame of ONGC there is a Reverse H&S pattern for which breakout happened & now ONGC is re-testing the neckline. A good Long opportunity for swing traders. TGT can be 6% from the neckline.....Best of Luck...
Follow THEDECISIVE..... Because we help you to decide....
ONGC: Rewards of following Technical Analysis (10% in a week)😀ONGC
On June 2nd 2021, When price was at 116.80, this is the chart that was posted
Pattern observed was a Cup & Handle Chart pattern and the target given was 128 / 136
Come June 09, 2021, Charts help us garner a 10% gain without much pain... 😀
If you do your homework well, rewards will be there...
Happy learning and happy trading...!!!
Follow for more such ideas
