ONGC trade ideas
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...
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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... 😀
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Happy learning and happy trading...!!!
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➼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.
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ONGC | Cup & Handle PatternWe can clearly see a cup and handle pattern formation in ONGC which has given a breakout. Can be bought at around 122 levels for an upward target of 145.
ONGC Long UpdateOnly for educational purposes.
Levels and targets marked in the image.
Learned technical analysis at Patil Share Market Institute Aurangabad, Maharashtra.
Please share your views.
ONGC – TrendLine Beakout on Monthly Chart
ENTRY: CMP (126.5) breakout was 121.2
Target1: 168
Target2: 234.4
Target1: 293.25
Stop Loss : 118.8 (Weekly Close). Deep SL 104.15
Will Update Trailing Stop loss whenever required.
Duration : 4-5 Years
Stock has broken Monthly Trend line which started from Sep 2014.
Also last week close was above 121.2 which was Previous Support on Monthly chart same should have acted as resistance which didn’t happened hence script is showing good strength.
Heavy Volume also seen last few month, signaling accumulation phase over or almost about to end in this script.
Fundamentally Co has good record of making consistence Profits for its share holders.
Cash Flow Statement has been consistently growing hence Co is able to give good Dividend over years.
Dividend yield is around 4%.
Debt to Equity 0.5 times (favourable)
Book Value 167 vs CMP 125 (Available at discount)
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
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ONGCIt is a really crucial time for ONGC. There are two Wolfe Waves that has been formed and both are on the verge of getting triggered. The level that is needed to be watched is 128. As the stock crosses and sustains the level of 128. Gradually 180 and 212 can be seen in long term time frame.
Break out in weekly chart ONGC break the strong resistance/trendline in weekly chart with good volume. Trend from 2014. Expected to move higher. Levels are marked on chart. This is my personal view for educational purpose.
Thank You guys.
ONGC A clear Blast?? Buy at 122/125 Target 163XABCD Pattern has been earlier activated. ONGC is rallying toward the Harmonic Pattern Target of 163.
CUP AND HANDLE PATTERN IN ONGC CHARTONGC CHART HAS FORMED CUP AND HANDLE CHART PATTERN,WHICH SHOWS AN SIGNIFICANT UPSIDE FROM HERE,IT PROBABLY SHOULD BREAK ITS RESISTANCE BECAUSE ALL TECHNICAL INDIACATIORS SHOWING POSITIVE SIGHN(RSI ABOVE 60,MACD POSITIVE,BB GIVING BUY SIGNAL).
