ONGC trade ideas
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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).
ONGC #StockMarket #StockToWatch ONGC >> Good Cup & Handle BO
If BO sustains above the weekly 50% level, then good opportunity to Enter for at least 150 targets.
Wait for retracement from current levels, then Enter.
ONGC BULLISH BREAKOUTStock on the verge of breakout by breaking the weekly downtrend initiated from 2014.
High Volumes and Favorable RSI.
Targets mentioned on chart along with SL.
Note: This is only for educational purpose.
ONGC - Short Term ViewStock had broken the TL and has been able to break the resistance zone as well today after forming Cup and Handle.
Looks good for swing if stays above 122 for 1-2 days
ONGC cup with handle pattern their is break out in oNGC for cup with handle patter for target price of 148 .
weekly chart closed over trendline. Bull run will start now.weekly chart closed over trendline. Bull run will start now. can v purchased now or after a pull back
