Break of ResistanceStock might take a bounce from the support and then shoot up.
Buy only on retracement.
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ONGC trade ideas
ONGC: Chart set up & viewONGC
CMP 67.5
Observation
- the current low of 64 odd levels is higher than the previous lows
- zone of 68-71 is crucial for ONGC
given the set up, one may consider to buy for target of 78 / 82 / 93 / 102 / 114
exit if stock gives a weekly close below 60
Disclaimer:
- The view expressed here is my personal view
- 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 the fact that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
ONGC at resistanceNSE:ONGC
ONGC is at a resistance that it has tried to breakthrough on 3 occasions but failed.
This time however, the volumes are good on the breakout. It can finally sustain.
Go long.
I am starting a new telegram channel. To join my telegram channel, leave a comment with "interested." NSE:ONGC
ONGC - UpmoveShort term ONGC could go to 74.75 on the backing of rising crude prices and the move upwards in HPCL stock price.
CONVERSION IN ONGC!Here a Conversion in ONGC it shows a sign of long ,65ema work as a resisitence for now but after stock break this resisitence it will work asa a soupport!
This Analysis is for EDUCATIONAL & INTELLIGENCE pourpose,Trade at your own risk
[Buddha] ONGC Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Up Coming Trend Termination One can Expect the price drop further to expected reversal price zone or cluster
despite many reforms of Gov this script has not made an significant move so let this drop completes then one can look for buy set up
and Book at or near the target
Intraday Short: Looks extremely weakIntraday Short: Looks extremely weak, we can enter once price breaks down from the box. Or if it pulls back to 65.80 we can enter at that level.
Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.
ONGC - BreakdownWith Europe heading for a shutdown and crude also breaking down, there is a chance we could see lower levels again in ONGC.
Technically the stock has broken down from a suport and could visit the lower marked price of 60 and then 56.
Short at CMP with SL above todays high (66.40)
ONGC - Intraday Flag and Pole Hello All,
ONGC gave a breakout yesterday from my levels and is again forming inverted flag and pole pattern. My stance on ONGC is neutral.
Upward movement : Can be traded at breakout at around 67.70 and target of 69 and 70.(According to Pivots)
Downward movement : Can we traded at breakout around 67 and target of 67.25 and then 64. (According to Pivots)
Economics of ONGC(Demand and Supply)A trait of a demand/supply zone is when the candle, which is breaking out of the zone, has a range that is significantly greater than any previous candle's range. Also, a range is usually formed inside a demand/supply zone, after which the price breaks out/down and continues to move with momentum in one direction. These can be great confirmations to find and make certain levels as demand or supply regions. Another trait is the formation of wicks near the supply zone and of tails near the demand zone., which is a sign that strong players pushed the price opposite to its original move. Observe the size of candles on 21 September and 25 September. Notice their range is greater than any candle visible on the current chart. This clearly shows that strong sellers are present at the supply zone(73-75 levels) and strong buyers are also present at around 65-67 levels, who push the price down and up, respectively. This has also caused the price to stay in a range for a long time and where the price breakouts out will decide whether this bigger range from 65-75 was a distribution zone or an accumulation zone.
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I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
ONGC - Short term Long tradeLong at CMP. (67.25)
SL: 65
Target: 71.
Stock bounced at a previous support which also having a +ive divergence on the RSI.
Ps: A lot of trades are more short term these days because of american elections when historically volatility is always high. Covid uncertainty adds additional volatility hence shorter term trades.
ONGC 1 Hour Awaiting breakout to upsideOne hour chart showing breakout triangle Breakout to the upside
Long ONGC Positional tradeHi Traders,
ONGC can be entered between 67.45 and 68.50. The stop loss is bare minimum, and the profit range is pretty high. We can see the targets being achieved in a month or two. It is a positional trade. The long term strategy traders can go further beyond the targets.
Buy on dips at following entry prices:
Entry: 68.50, 68, 67.50
SL: 66
Target: 82.15
Profit around: 21%
Maximum span: 2 months.
