ONGC trade ideas
Short ONGC - Natural Gas futures crashedNatural gas futures have crashed, ONGC initially rose after market opening but started reacting to gas prices crash.
ONGC - INSIDE BAR PATERN#ONGC
BUY ABOVE 77.80
SL 75.90
TGT 78.50/ 79.30/ 80.50
SELL BELOW 75.50
SL 77.75
TGT 74.40/ 73.50/ 72.60
FOR COMPLETE STOCK ANALYSIS, INTRADAY LEVELS AND FOLLOW-UP. CONTACT ME!! CHECK LINKS IN MY SIGNATURE FOR WELL-RESEARCHED CALLS!!
(1h chart ) watch for pull back from trendline(1h chart )
watch for pull back
from trend line
only for educational purposes
ongc buy 6.8.2020all details in chart
entry after 9.30
trendline break and again retest
also day cahrt inside bar so buy above prev high
trade ur own risk
(1h chart ) watch for pull back from trendline for tgt 79(1h chart )
watch for pull back
from trendline for tgt 79
only for educational purpose
ONGC to trade sidewaysHi Traders!
Hope you are doing well in markets. My trading strategies might help you to increase returns on investments. My strategy prioritizes safety over exponential profits.
This stock being low in value will give profit or loss on high volume trading. So those who pay high brokerages should either trade in higher volumes to cover brokerages out of their profits. Calculate your cost of trades to find out the break even below placing orders. There are a few scenarios and place your order according to the scenario that you observe in market tomorrow.
Current close: 82.40,
---------------------------------------------------------------------Intraday Traders--------------------------------------------------------------------------------------------
Scenario 1:- Market opens between 81.70 and 82.40.
Strategy: Trade only after first 5 minutes.
Short Selling If price breaches 81.70 then wait for a fall and sell @81.45, Target 80.35-78.75, SL@ 82.20
Buy/Positions If price touches 81.70 and pulls up back then buy @82.00, Target 83.20-84.60, SL@ 81.70
Scenario 2:- Market opens at or below 81.70.
Strategy: Follow Short Selling strategy (Case 1) of Scenario 1.
Scenario 3:- Market opens at or above 82.40 but below 82.90
Strategy: Buy @82.40-82.75, Target of 84.60, SL@ 81.70. If price struggles to cross 83.50 by 1p.m then sqaure off your positions at 83.35-40-45-50.
---------------------------------------------------------------------Intraday Traders--------------------------------------------------------------------------------------------
For positional traders, The ONGC is expected to trade sideays for a few days.
Folowing is your entry point and short term targets for this stock.
Scenario 1: Trigger Price: 80, Buy Price: 80.40, Target: 82.40, - 84.60, - 86.10, - 92.25, Highest Target duration: end of next week.
Scenario 2: Stock doesn't correct: Buy Price@ 82.00-83.00, SL 81.55, Target: 84.60, - 86.10, - 92.25, Highest Target duration: end of next week.
ONGC: Fib RetracementLevels on chart.
Go long above 82.9 for 84, 85.4 (100 DEMA), 86.5 with SL at 82
ONGC Short Term perspectiveONGC
SUPPORT (buy at)-102, 158,
resistance (sell at) - 205,230,309
As of 20th july, selling signal for ongc( short term trading perspective )
wait for prices to reach support level
intraday is looking good for buying on 21st July
TRADE AT YOUR OWN RISK
ONGC TRADE SETUPSupport and resistance lines are drawn, place your targets and stop loss accordingly.
swing tradingIt is on bullish position.
It cover previous day candle and it is maruboju candle. It may continue for the next day.
Strong close indicates BullishnessPrice closed very strong on friday close. One can see there is no rejection from the bottom or top of the candle shows big bullishness in the stock. But still the trend line is not broken. As it is a falling wedge price to raise !!!
ONGC ~ BolingerBand ~ FAIR Value ONGC as per BolingerBand taken Reversal Pattern from Bottom; CMP at Fair Value.
( For Education Purpose Only )
[Inside Bar] ONGC Buy above 79.55 with Sl at 78.4
Sell Below 78.4 with SL at 79.55
~ Inside bar trades are generally aimed to capture the compression effect i.e sharp breakouts. Profits are
taken quicky or trailed in most of the cases and closed before market close barring rare cases where price action analysis suggests otherwise.
~Manage risk, reward will take care of itself
ONGC: Chart set up & strategyONGC
Closing Price 85.75
- Any dips towards 83.5 - 81.50, the stock looks good from a medium term perspective.
- Momentum might be seen once is pushes past the yellow trend line
- Target for the set up - 103 / 115 / 133
________________________________________________________________
Alternatively one may consider selling ONGC 30 July 2020 expiry 80 Put Option
around 3.5 - 4.2
Lot size 7700 ( Lot size has increased from July series)
Maximum profit potential Rs 26950 / Rs 32340/ - per lot
Yield potential 8.5% - 10.3% till 30 July 2020
In built loss protection for a fall in price up to 76.5 / 75.80 till 30 July 2020
Take care & safe trading...!!!
Discliamer:
- The view expressed here is my personal view
- 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
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Take care & safe trading...!!!
ONGC needs VentilatorWhen there is a confluence of Trend line support & Horizontal support , I call it - THE AXIS OF EVIL
