ONGC trade ideas
ONGC D TF CUP AND HANDLE PATTER BREAKOUT BUY ABOVE 122.75 STOPLOSS 116.60 TARGET 1 138.65 TARGET 2 148 TARGET 3 160.75
ONGCCup and Handle pattern.
CMP: 120
A good upmove expected afte breakout.
Expectation: At least 15%
ONGC is BullishCup and handle pattern is observed on daily chart of ONGC. Confluence of price range and charts can be seen Target- 145
ONGC might have multiple breakoutsONGC could break its previous swing high in shorter term . In longer time frame it is also trying to break the 2018 trend line on which is has been taking resistance . Worth tracking this for June 2020. Lot of resistance on it way forward but crossing 125/130 wud be a healthy sign for ONGC
ONGC - CUP AND HANDLE PATTERN FORMATIONBuy Around 116 with Stoploss below 110 . Target is 121 , 132 and 145.
ONGC: Cup & Handle pattern observedONGC
Sustaining above 119 opens up door for the stock for targets of 128 / 136
Trading strategy
If you are a short term trader Consider buying after break out confirmation
If you are medium term investor types and can have patience
consider buying on dips.
You can refer my earlier views on ONGC that are listed below
Take care & safe trading...!!!
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
My view on ONGCONGC ready for breakout above 118 looking double bottom breakout also Flag pattern there.It may hit 121-122++ intraday SL 115
#ONGC #TIDEWATER #OIL #IOC #HINDPETRO #BPCL #DIESEL #PETROL #IT#ONGC
NSE: ONGC
CMP 117.60
Target 130+
Time frame < 2 months
Factors:
Petroleum sector booming
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Fundamental are strong.
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming
The stock has potential to go beyond 130 in longer time.
PEER COMPARISONS:
NSE: ONGC
NSE: TIDEWATER
NSE: IOC
NSE: OIL
NSE: HINDPETRO
NSE: BPCL
NSE: PETRONET
NSE: SUPPETRO
NSE: CHENNPETRO
NSE: RELIANCE
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With 💚 from Rachit Sethia
ONGC breakout tradeNSE:ONGC Levels are Mentioned in the chart... Good for swing..
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... After market opens, the condition might change so learn to handle for different conditions..
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ONGC | SWING TRADE IDEA | 1/6/21All the reasons for the trade have been mentioned in the image.
Happy trading
ONGC Bullish BiasVolumes are getting dry when price is retracing
Traded Qty 2.7x
Delivered Qty 2x
Futures OI addition +5.8%
Brent Crude beneficiary
SL 100
Target 145
ONGC CUP HANDLE HERE I SEE ON ONGC CHART 1 DAY TIMEFRAME THERE IS A CUP HANDLE PATTERN AND IN THE CURRENT PRIZE ONGC HAD A STRONG RESISTANCE ZONE I WILL MARK IN ECLLIPSE.
SO WHEN THIS LEVEL IS BREAK WE HAVE TO BUY THIS.
