ONGC trade ideas
ONGC WILL RUN IN LUCID WAYSUPPORT AND RESISTANCE LEARNING SERIES CONTINUES
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MCPRICEACTION
ONGC - BUY . RR - 1:1.5 Hello Traders,
The rationale for the trade:
1) Trend Line - Support & Resistance
2) pennant pattern pattern
3) 50 & 100 EMA Support
3) 200 EMA Cross over in Weekly Time timeframe
ONGC Looks weak !!ONGC : cmp : 120.25
Closing below previous low as well as last weeks low.
RSI bearish.
Sell on rise. If opens gap down dont chase.
TGT 116.25/112.15
Sl 125
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
ONGCONGC weekly chart, Trend line Breakout and retest the point. Good opportunity for going long.
Levels marked in chart for reference.
My personal opinion on ongc.
If you like/agree the idea, thumbs up for motivate.
Thanks.
in 7 minutes
Break out of ONGC from it's demand level Hi
currently ONGC in demand zone when it break it's demand zone then it's first target is Rs 128.40
ONGC: Opportunity for re-entryONGC
Last time we gave a target of 128 / 136
The stock did an exact 128 and has now retraced to 120 odd levels.
As observed in the chart, at current price, the stock provides another opportunity to enter.
Target 136
Pattern gets invalidated if closes below 114
Take care & safe trading...!!!
ONGC - Short term looking bullish.ONGC: Looking Strong for Short term
After forming a beautiful cup and handle pattern, breakout then retracement and now taking support at 400 days EMA.
Good possibility of upmove.
Buy - at CMP (120)
Target - 130+
SL - 110
All levels are for educational purposes only. Do your own research before investing.
ONGC on Daily timeframe breakout plus retestONGC gave breakout of rising wedge on daily timeframe and also is at important level of retest, if breaks above with bullish candle could be a good buy
ONGC - For BuyStock running in a proper channel
Currently at the lower end of the Channel
Also at previous resistance turned support
Good Buy region
Multiple Trendlines Confluence in ONGC Weekly ChartONGC weekly chart is exhibiting confluence of three different trendlines:
1. An upward sloping trendline from Nov'20
2. A downward sloping trendline from Jan'18
3. The horizontal trendline at 120 price range
The price is is a super interesting place and we will be watching where the it will go from here, ready to bring out our ammo, whether it breaks up or down.
ONGC Cup&handle BO doneNSE:ONGC
forming flag
above 129 can see
T 132,136,140,145
SL 123 as per flag
114 as per C&H
ONGC can go up after retesting the current breakout levelsIn weekly charts, a trend-line can be drawn if you connect the highs of 22nd January 2018 and 20th May 2019. This trend-line was resisting, but in daily charts, it was forming an inverse head and shoulders pattern since 25th February 2021 and it broke the above mentioned longterm trend-line on June 3rd. But now it is retesting the same levels after this breakout.
Those who are holding can wait for a little more.
Those who haven't entered can wait for a bullish sign in the weekly chart at this current level to enter.
EXIT manually, if you think Nifty will fall constantly.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
