ONGC - strong support on RSIONGC -> above 125+ it may touch 130 level again.. reversal candidate on RSI.. strong multi support on 34 level
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 Hourly Setup . #NSE #BSE #NIFTY50ONGC Nicely making a Curve and coming out of SELL Line . NSE:ONGC
LongIn My Previous post on this scrip was to buy on brake , but it did not pan out , Now the current structure indicate the down side move is very little
one can look for reversal on 1 hour or day basis for buy set up and look to book near the forecast
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.
BUY ONGC @ 125 FOR TARGET OF 138 (8% GAIN)AS per my wave view
comments appreciated
Disclaimer - i am not responsible for your loss
A STUDY ON GAILGAIL is broadly moving in the range between 125 TO 149
But presently there is a sudden down move from 149 High..
How to know whether it is part of a corrective move or is it an impulsive move ??
How to know whether the present down move from 149 is an impulsive move or a corrective move ??
To know that we have to check the previous upmove from 125 TO 149
If you look closely , it took 15 trading days to move from 125 to 149
After that the Down move started
Now if we have to call the next move as impulsive , we have to break the previous low (125) , within 10 trading days (around half of the previous)
Presently it is @ 125 and till now it has taken 26 trading days
Since it took more than 10 trading days , the present down move is a part of corrective and very soon an impusive move will come
So Don't be on Short side on Gail
Dream long on Gail
If you ask me ,
Buy Gail between 121 to 125 for a target of 135
ONGC Trading IdeaHere we see price be the alligator's mouth.
Awesome Oscillator also below 0 and forming continuous red signals.
Also Nifty showing sell signals, and Nifty Energy also in a downward trend.
Therefore, a good shorting opportunity.
Placing the sell order 1 tick below the last fractal low i.e 126,
hence keeping the trigger at 126 with 125.95 as the price.
ONGCGood buy @ 125 for some 10 points - Rising Crude can help it go higher as well
*Do your own analysis please before entering trade
