The stock has been moving up steadily and undertone looks bullish. Price has cleared resistance and the supports are holding: a classic sign of uptrend. Am expecting a rally to 298.8.
OMGC approaching a target of 270.00 to its trend support, trader may go short till 270.00, if it breaks 270.00 level then it may go to next target 242.84 which is seems strong support. alternatively if it bounce back touching 270.00 it will further go upward with a target of 295.00
OMGC approaching a target of 270.00 to its trend support, trader may go short till 270.00, if it breaks 270.00 level then it may go to next target 242.84 which is seems strong support. alternatively if it bounce back touching 270.00 it will further go upward with a target of 295.00
The stock on the daily chart has been following the channel (purple) almost perfectly and has now broken it completely and it might act as a support for the next big move up. The trendline was broken on the upside earlier on 04/10 but the stock corrected and came back within the shaded area on the next day, though it did not hit bottom and the downside stopped at...
ONGC is running a long rally and as per my analysis I expect it to revert back for some 20-30 points. Good Entry point for shorting the DECEMBER Future contract will be when ONGC script hits 300-310 levels.
On the news front ONGC is giving Bonus and all but still expect the script to show some strong downside.
Price is in a strong uptrend in the daily chart. The immediate support is highlighted in the 15-min chart. Will the slide halt at this support?
Your Guess is as good as mine. Let price play its card first, we can always react based on that. No Guess Work.
It is been observed that the price action on daily chart formed two channels. Firstly a downward trending channel and secondly the upward moving channel. Indicating price change movement and change in control of dominance over price actions. Channels are powerful tools when it comes to finding trend. Therefor I would highly recommend to beginners to practise it...
ONGC once penetrates 243-244 mark- Likely it will travel in the zone of 252-254 -Hitting the box the resistance from the top end channel. Once it hits the box & we see it is unable to penetrate on upside & facing resistance- we shall look for selling opportunities in later sessions.
Trading Strategy - Likely going above 243-244 -ONGC could head for upside...
