ONGC trade ideas
ONGC- Is it ONGC or OUCH!!! (Will You Buy or Sell?) Elliott Wave20th Feb 2025
Last time, ONGC traded at ₹241 on February 20, 2025 , as shown in the snapshot. Today, February 28, 2025, the stock hit a low of ₹223. The big question—Is this a buying opportunity, or is more downside ahead?
Let’s break it down:
Double Divergence Unfolding
- The RSI image on the daily chart (shown above the price chart) indicates a potential reversal.
- Price is making lower lows, while RSI is making higher lows— a regular bullish divergence , signaling that the downtrend is losing strength.
Waiting for the Final Leg Downside ( Since 20th Feb 2025)
- Though the stock has dropped to ₹223 lows as of today ( 28th Feb 2025), we are possibly in the last phase of the correction before a reversal attempt.
Trendline Confluence – Price vs. RSI
- Price chart: The stock has touched a falling trendline three times (1st, 2nd, and 3rd touch points), which could act as dynamic support.
- RSI image: A rising trendline with three touch points suggests regular bullish divergence, strengthening the case for a potential bottom formation.
Andrew Cardwell’s RSI Magic
- According to Cardwell’s RSI principles, a rising RSI against a falling price often signals an upcoming reversal.
Final Thought
- If the RSI divergence holds, ONGC might be nearing a trend reversal, making this a potential buying opportunity.
- However, a break below ₹223 with increasing momentum could invalidate this setup, opening doors for further downside.
Would you buy at these levels, or are you waiting for more confirmation? Have a great weekend
Catch me with another exciting idea from WaveTalks- Market Whispers! Can You Hear Them?
ONGC - The Big Idea - Did You Check Them?
Regards,
Abhishek
WaveTalks
OngcDate : 21.02.2025
Ongc
Day chart
Head & shoulder, neckline is make or break coz it is in confluence with wedge base
The company has shown a good profit growth of 53.31% for the Past 3 years.
The company has shown a good revenue growth of 23.98% for the Past 3 years.
Company is virtually debt free.
Company has a healthy Interest coverage ratio of 13.99.
The Company has been maintaining an effective average operating margins of 31.57% in the last 5 years.
The company has a good cash flow management; CFO/PAT stands at 1.93.
The company has a high promoter holding of 58.89%.
Regards,
Ankur
Day candle analysisThis is just my analysis for ongc accordingly to supply demand your analysis can be different don't take buy or sell from my analysis it's just for education purposes.
Well according to my analysis it have to first make a trap for seller and then move upward, find your own reversal candlestick pattern
I will wait for strong hammer before buying
ONGC - Did You Get Trapped in an Irregular Flat? – Elliott Wave I Told You So… The Market Whispers! Can You Hear Them?
Back in April 2024, I warned you to be careful as the stock approached key resistance at 314, forming a Bearish Bat pattern with a Potential Reversal Zone (PRZ) between 300-275. The stock topped at 287, right at the edge of invalidation.
Yet, if you got convinced of the rally above 300, then unfortunately, no one can help—but I did my job of warning you months in advance.
This reminds me of BHEL, the stock we discussed a few days back.
Let us talk about ONGC.
The Irregular Flat structure caught many off guard. Did you get trapped? Because if the current wave unfolds impulsively, which it just started from the highs of 345, then welcome to reality!
Warning Through Last Idea in April 2024
As shown in the chart snapshot, how Irregular Flats look has been illustrated next to the price chart. I have depicted the irregular path of flats that could unfold.
This is how markets deceive, creating irregular structures that mislead traders. Elliott Wave calls this pattern an Irregular Flat—a trap that looks bullish before a sharp reversal wipes out weak hands.
The Lesson?
Patterns speak… if you listen carefully.
I shared my insights long before the structure unfolded—and yet, if you got trapped, you now know why.
Catch me later with another exciting idea of WaveTalks, Market Whispers! Can you hear them?
Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
ONGC : Is oil Going to burn?
Technical View
Box trading strategy in which you identify a stock consolidating for couple of days and trade in the direction of the breakout. In case of ONGC the stock was consolidating for about three days before breaking out earlier today.
PRO TIP
Use the High of the candle as your stop loss and trail it to either protect profits or hold your trade for longer duration.
Target 227 Intra-day Target
Fundamentals
Weak Q3FY25 Results:
ONGC's consolidated net profit attributable to owners declined by 19.4% to ₹8,621.69 crore in Q3 FY25, compared to ₹10,703.13 crore in the same period last year. This drop was attributed to lower global crude prices.
The company reported a 6.9% decrease in net profit for the quarter, standing at ₹9,784 crore, down from ₹10,511 crore in the same period last year.
ONGC's gross revenue also showed a slight decline of 0.7%, falling to ₹1.66 trillion in Q3 FY25, compared to ₹1.67 trillion in Q3 FY241. The company's revenue from operations also saw a decline, reaching ₹166,096.68 crore.
Bearish Trend: The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which indicates a bearish trend in its short to long-term performance.
Brokerage Views:
CLSA has cut its FY25 EPS estimate by 5% due to cautious outlooks on the company's production and profitability
Not an investment advice
5th feb ongc for intradayongc has shown meaningful correction and now is poised to move upwards
crude is also stabilised hence positive for ongc
but main thing, today prevolume for ongc is highest it means it will rock today
so buy ongc half at open half in range 255-259
stop loss at 251
target will be 265-267-270++
ONGC : Skewed premium of Puts - Nice sideways setup
Volatility (IVP) is very low in the stock
Zone of 235-240 seems strong support (reversal at high volumes)
On upside, 200D-EMA and Pivot of 270-275 is good resistance
Max Call OI build up at 270 / 265 levels too
Can be volatile but mostly sideways action for Feb Series
Trend strength is not there in either direction
#stoxsense #learntradingwithsudhir #ongc
ONGC looks good around 254-256 levelsA long trade san be initiated in ONGC around 254-256 levels for target or 270+++ 277+++ 284++ 291+++ maintaining sl around 250 maintain proper sl and take risk as per your appetite
ONGC looks good to buy above 275giving trendline breakout and once above the resistance can be bought above 275 with short term target of 290
Oil Natural Gas Corporation Ltd view for Intraday 10th Jan #ONGC
Oil Natural Gas Corporation Ltd view for Intraday 10th Jan #ONGC
Resistance 270 Watching above 271 for upside movement...
Support area 260 Below 265 ignoring upside momentum for intraday
Watching below 259 or downside movement...
Above 265 ignoring downside move for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
ONGC RESISTANCE BREAKOUT WEEKLYONGC breaking long time resitance weekly basis
with strong volume building last 2 week
breaking 20 wma,rsi in bullish zone
macd crossover about to happen
#target1 300,breaking 300 #target2 344
NO BUY/SELL RECOMENDATION
7th jan ongc for intradaytoday oil and gas sector will perform
buy ongc in zone 254-259
stop loss at 252
intraday target will be 262-264-267++
this is intraday now swing happy trading
ONGC: Prepared for a 20% RallyThe chart of ONGC provides delineates critical price thresholds that signify breakout point, along with specific support level that serve as indicators of where buying interest may manifest.
Additionally, the chart highlights regions likely to act as resistance point for future price ascension, allowing for informed decisions on entry and exit strategies.
Disclaimer: The information contained in this technical analysis report is intended solely for informational and educational purposes. It should not be interpreted as financial advice or a recommendation to buy or sell any security. Investors are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
ongc buy call daily frame 06012015ongc buy call daily frame 06012015, breakout happends at horizontal and downtrend.. so looking for upside for ONGC
ONGC Stock Looks to be in Momentum Right NowONGC stock has just made a trendline breakout and is above 50 EMA and RSI is also near 60, so the stock is still in momentum and is entering around 250, which is placing the stop loss as per the past performance. is 232 and its target is 298.
Channel Breakout with Retest Formation, Targeting Strong UpsideDetails:
Asset: Oil and Natural Gas Corporation (ONGC)
Breakout Level: 270
Potential Target: 300+
Stop Loss: Below 270 or as per risk management strategy
Timeframe: Medium-term
Rationale: ONGC is displaying a classic channel breakout with a retest formation, signaling strong bullish potential. Sustaining above the 270 level may trigger a significant upward rally, with the stock poised for robust momentum.
Market Analysis:
Technical Setup: The breakout from the channel, followed by a retest, indicates a confirmed bullish pattern. If sustained, the stock is likely to see a sharp move upward.
Sector Outlook: ONGC, being a leader in energy and oil exploration, benefits from rising crude oil prices and global energy demand. Positive macroeconomic factors further support the stock’s bullish potential.
Price Target:
Short-term: 300
Further Upside: To be determined based on momentum
Risk Management:
Place a stop loss just below 270 to safeguard against unexpected downside moves.
Timeframe:
Expected move to 300 and beyond in the medium term, driven by technical and fundamental catalysts.
Risk-Reward Ratio:
Attractive, with minimal risk near the breakout level and substantial upside potential.
Traders should monitor price action and volume closely for further confirmation and adjust positions based on broader market trends.
Ongc looks good for Budget around 259-262 levels After a good correction in ONGC it can be a good buy candidate looks good in the range 259-262 with sl around 253-254 levels for a target of 275+++ 282+++ 289+++ 302+++ and soon Maintain proper sl and trade as per your risk apatite
ONGC - Great Price Action Stock to Study!Retracement would be better with that said aggressive entry can also be found in the Daily time frame.
I will be posting the same in the follow-up trade soon...
- Stay updated for further insights and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
Natural Gas sector for self referenceSharing price movement across natural gas sector for self reference.
1 -1.5 year down
1.5 - 2 year up pattern
Not an Investment advice. only for self research purpose
ONGC LOOKING BULLISH ONGC LOOKING BULLISH on daily timeframe waiting for box Breakout Target is next Resistance
Ongc bullish view Ongc after good correction almost 30% .. stock is running daily inside pattern . 260.5+ daily breakout leads to mother candle move ..almost 12 point mothercandle .. so above 260.5+ minimum target 270-273
