DOWNTRENDA small yet diminishing CUP formation on this chart, indicating a down trend.
The following are the points of entry and exit.
SELL below 67.00,SL68,TARGET-66/65--
or
BUY above 69.55, SL67.75,TARGET-70/71++
ONGC trade ideas
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.
ONGC Bearish: will it goes with trend ?Weekly and monthly charts clearly shows a down trend with lower highs and lower lows, as far as 45 min charts are concerned clearly depicts a smaller green candles and upper wick rejections which confirm a bearish view.
Along with this as oil barrel price increased a short position can give u an opportunity to ooo profit..
long on ongcjust planning to entry ONGC....
entry point == 78.00
exit point == 86.00
stop loss == 74.00
Trade ONGC with 70 CALL optionRisk taker can trade ONGC 70 CALL option arounf 5 to 5.5 with stop loss of 4 for target of 7 to 8rs.
Hanging Man Candle Stock Pattern Developed in ONGC Daily ChartBuy Only when it breaks and closes above 71.10 on 5 min time frame SL 69.80 Targets 72.40/73.80/75.20
Sell Only when it breaks and closes below 69.80 on 5 min time frame sl 71.10 Targets 68.50/67.20/65.80
This call is only for educational purpose. Consult your financial adviser before taking any positions.
Wave Extensions ( Classic Live Example ) One of the Most interesting part of wave theory is Extensions , where usually you will find extensions either at 1 Impulse wave or 3rd Impulse wave in stocks
but when you find an extension in 5th wave , its very high likely the 5th of 5th wave will get extended
You can visually look the price extending in deep move
One can expect the termination near the forecast level
ONGC - Last supportIf it breaks trendline long term support it will go down to Rs75 in quick time. SL above 91.
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.
