ONGC - Go LongONGC is placed well to start the next leg, one can stay long on this as long as it is holding 1 ATR on the down down side.
R:R ATR 1:3
Plan your risk.
ONGC.T0 trade ideas
Breakout from Cup & Handle Pattern formation at ONGCThe stock has given a breakout from the cut and handle pattern and is currently trading near its 52 week high. Entry can be initiated at 175 with an Sl of 165.
Break out in ONGCBreak out in ONGC
Entry Price : 173.2
Stoploss : 168.00
Target 1 : 178.6
Target 2 : 181.85
Timeframe : 10 days
It could be a long term break out as well in ONGC positional target of 225 on cards in 3-6 months. Higher Crude prices are also supporting the rally in ONGC.
ONGC IS FORMING CUP PATTERNongc is forming cup, previous pattern details are also linked.
you can plan your trade as per the risk profile,
i am expecting the stock to fall at least 5%. Than it can be added
Risky traders can add the stock at current level
Cup and handle breakout possibleCup and handle breakout possible.
Stock relative strong against Nifty all stocks
ONGC BULLISH ON DAILY AND WEEKLY CHART*SHORT TERM VIEW*
*ONGC*
*CMP* 171.5
*TGT* 177, 182, 187, 193, 200
*SL* 160
*Risk Reward (RR) -* 1:2.7 (Good)
*Potential Returns :* 18%
*Potential Loss:* 6.5%
*Time Frame:* 1 Month
ONGC LOOKS STRONG BUY 170-171.50 T1 176 T2 180 SL 165-DKM SIR
i can see the upmove buy as per your risk
ONGC: Chart setup Follow up and important levelsONGC
- This is a follow up on ONGC (idea posted on 30 Dec 2021)
- the stock has seen momentum once we saw breakout from the down trend channel around 148
- despite the broader market volatility and weakness, ONGC has been one of the strong candidates who has stood tall
- it is now positioned at another important level... near the top made in Oct 2021
- if the red zone is crossed and sustained, it would give another breakout and target zone for the breakout would be around 185 / 205 / 213 levels ( the final target is consistent with our view posted on Sept 22, 2021)
- Important Support at 162 / 160 / 158 and 50 day EMA support is around 153 odd levels
Take care & safe trading....!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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 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 #RSI Divergence # Bearish ONGC #Weelky ChartsWeekly Charts of ONGC , Wait till Expiry of this series , if Bearish Patterns forms at the Top , Downward Journey of ONGC will begin.
Ideas are only for study purpose.
ONGC LONG above 171 Ongc have given one break out earlier as expected and this time it may break the new resistance line and go towards all time high.
You can check my old idea of ongc how it broke above 144
ONGCSupports near 159, 150
More chances to break the rejection zone
When nifty supports, sure bull will rise here
Flag Pattern Observed in ONGCGuys, as you can see the ONGC stock making the flag pattern and when the price breaks the trendline near the arrow it will go to the top of the flag on the blue line.
It is a decent profitable positional trade.
ONGC looking goodAfter breaking its monthly resistance, I think it would take a few more consolidations and hits at the same before it begins in upward trajectory.
Buy at 171.3 or sell below 169 TGT 173.5 and 165 respectivelySuggestions are based on my analysis only. Please do your analysis before taking any trade.
ONGC is ready for a beakout for a target of 300/- Cup and handlOngc is ready for a breakout for a target of 300/- CUP AND HANDLE
WATCHOUT FOR WEEKLY BREAKOUTONGC looking good for positonal buy above 176..
stock is trying to break its resistance for 3rd time
though the volume is low .
the stock can be bought for Shorterm target of 185 and further 200.
SL of 160 - 164
**** PLEASE FOLLOW RISK MANAGEMENT***
Buy Opportunity - ONGCBreakout Scene Followed By Flag Pattern ONGC Shows Buying Side On Chart
All Details R On Chart..
