ONGC trade ideas
Ongc Cup and Handle formationOngc has formed a cup and handle formation. Ready for a breakout. Any close above 122 will lead to multiyear breakout and stock can rally further.
ONGC, cup and handle patternONGC, moving in cup and handle pattern, also making descending triangle pattern, enter after trendline breakout.
ONGC, Symmetrical triangle patternONGC, moving in symmetrical triangle pattern , enter after breakout, either above or below.
ONGC - Good Pattern - Market structure - Target 150 ? 🔰 MY thought process :
⭐Ongc making higher lows and getting good buying zones inside the pattern itself too
⭐The stock is getting rejected from the same levels too = Aggressive Sellers
⭐The stock is getting good support too at marked areas = Aggressive buyers
⭐a small day trendline is created by me on the charts = its break can be our good entry
⭐Risk is the most imp part = candles low can be taken as a good sl small risk
⭐Pattern: Triangle
⭐ Targets: 150 as of historic data and 135 as of fibo ext :)
🔰Am I taking this trade now: I might :)
Trades I am in Naukri, Coal India, Nazara.
🔰 {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.
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ONGC-Inverse Head and ShouldersONGC in the process of completing inverse head and shoulder pattern whereas volumes are going down and RSI is having +ve divergence. The only negative is relative strength has gone below 0. 150 is anyways a big resistance and completes bearish harmonic pattern in weekly timeframe.
ONGCHI its a flag pattern and in weekly time its look like cup and handle wait till it touch to support and then buy it .
Cup and Handle pattern in ONGCBuy point on 120.10
1st Target on 128.65 (will reach in 1-1.5 weeks)(return 7%)
2nd Target on 142.45 (will reach in 1-1.5 months)(return 18.5%)
* 1ST TIME POSTING MAY BE MY ANALYSIS WILL NOT WORK
*DON'T FOLLOW BLINDLY, DO YOUR OWN TECHNICAL ANALYSIS! TAKE RISK ON YOUR OWN!
ONGCA very bullish cup and handle pattern can be seen to be forming in ONGC on the daily timeframe. Breakout from the handle can give a strong upward rally. Keep an eye on stock and take positions accordingly.
ONGC CUP AND HANDLE A cup and handle has been formed and short term target above 125 before expiry. buy CE @120 for 3 rs target
ONGC Inverted Head and Shoulder As you can see it has created a beautiful Inverted Head and Shoulder Pattern n.
The Rules are from the center of the head to center of the shoulder there should be at least 7 to 8 candles.
After creating the first shoulder, Price Touches the neckline let's take that point as A and the bottom of the head as Point B.
When finally after creating an inverted head and shoulder pattern the price crosses the neckline and closes above it and creates a new candle there that's the point to buy and draw a line from point a to point b and place it above the neckline and there you get your Target Price.
Next to Inverted Head and Shoulder Pattern, it has created Double Top. See if you can find or let me know below.
ONGCONGC
Chart Analysis for you to track.
Note - This is purely for educational purpose.
I don't provide paid calls or stock tips.
And that's why -
- No SL
- No Target
- Just a picture depicting the story.
Use it, if it's Insightful. Ignore otherwise.
