ONGC trade ideas
Oil and Natural Gas Corporation (ONGC)Oil and Natural Gas Corporation (ONGC): Strong Bullish Momentum
ONGC has shown impressive bullish momentum, breaking above multiple resistance levels. The increasing volume and positive RSI suggest a continuation of the uptrend.
Key Observations
Upward Trend: The overall trend of the chart is upward, suggesting a bullish sentiment for Oil and Natural Gas Corporation.
Multiple Resistance Breakouts: ONGC has successfully broken above several resistance levels, indicating a strong bullish momentum.
Volume: The volume has increased during the breakouts, supporting the bullish trend.
Positive Indicators: The Relative Strength Index (RSI) is currently above 50, suggesting a bullish bias.
Head And Shoulder Pattern Formation in ONGC.Head And Shoulder Pattern Formation in ONGC. Price Might Broke Below as there are low volumes and no Bullish Momentum. There are Bearish Divergance in RSI Too. But Taking Baout the Support Level it has retested this level Sevral times, so Taking any sort of LONG or SHORT entry Seems to be Risky.
ONGC Levels - Daily TimeframeNSE:ONGC is consolidating near the all time high. Once this consolidation is broken the stock can be traded.
ONGC (EDUCATIONAL PURPOSE ONLY)There is no guarantee in Stock market and Nothing over week.
STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY, NOT BUY OE SELL RECOMMENDATIONS)
ONGC LIMITED
TARGET RS 350
CMP RS 332.55
ENTRY RANGE RS 329-336
STOP LOSS RS 305
Disclaimer: I am not Sebi Registered.
ONGC big move pendingAbove 305 it can blast and give very good move. It will be 10 years long breakout then. Target will be double after it. But it should also retest or may be cup & handle pattern.
ONGC: Post Q1 FY 25STANDALONE:
1. Revenue 37,237 crores down by -2.58% QOQ up by 5.37% YOY
2. EBITDA 11,956 crores down by -7% QOQ , down by -14.8% YOY
3. PROFIT 8,938 crores down by -9.43% QOQ ,down by -15% YOY
4. EPS 7.1 down by -9.5% QOQ, down by -15% YOY
CONSOLIDATED:
1. Revenue 1,69,562 crores down by -0.18% QOQ up by 1.92% YOY
2. EBITDA 13,981 crores down by -8.1% QOQ , down by -42% YOY
3. PROFIT 9,936 crores down by -1.7% QOQ ,down by -32% YOY
4. EPS 7.9 down by -1.6% QOQ, down by -32.15% YOY
has declared total 5 discoveries in FY25 so far
it has has declared 3 more discoveries (1 in onland and 2 in offshore) in its operated acreages.
The crude oil realisation for the first quarter stood at $83.05 per barrel, compared with $76.36 in the last year quarter.
During the reporting period, the total crude oil production fell marginally to 5.23 mmt, while the same from joint ventures stood at 0.35 mmt.
The total gas production during the quarter fell 4% to 4.86 BCM in the first quarter under review.
Technical Analysis ::
For bullishness it should hold the level above 310. If fail to hold above 310 and broke down 303 and trade below it , then it may go again sideways in the range 257 to 300
ONGC SupportONGC has a strong support at 288.70. Below that it should take next support between 273 to 272.
ONGC SEEMS good for Being Double ONGC is seems Good after 10 year’s Breakout we can Accumulate till 305 Sl 295 WCB target 80% and 100%
Long on ONGC for Long termThe stock reached ATH of 314.55 on 9th June 2014. It then fell by almost 84% to reach 50 on 13th Mar 2020.
It took support at the lower trend line to reach high of 194.95 on 8th Mar 2022. It faced a correction of almost 38% reaching a 52W low of 119.85. on 6th July 2022.
Recently, it took support from lower end of the channel rising nearly 33.62% in 9 months. Recently it gave a breakout from upper resistance trend line with a large bullish candle rising 4.35% on 10th Apr 2023.
The stock is trading above all short term as well as long term moving averages.RSI is above 60, which indicates bullishness.
Maintain a Stop Loss of 150.55 on daily closing basis.
Potential: 28% to 60%
ONGC buying opportunityONGC moving upward in channel with impulse wave targeting 350++
Disclaimer : study is only for learning purpose and no recommendation for buy/sell
ONGC - Intraday ShortWith crude prices falling ONGC could fall tomorrow..
Short below 331.50 with SL above 332..its purely an intraday trade coz tomorrow they will also reduce the windfall taxes on crude..
Might even make more sense to short it day after after that news of how much they will drop windfall tax by..
First target 325 and then 313.
ONGC- short term AnalysisI have analyzed ONGC base on the past high and low. Then i have applied Gann methods and reached the conclusion of SL and target.
ONGC -ATH BOLOOKS good for long term, today it has given storong breakout th huge volume, must keep on radaronly for education purpose
not fo recomdation
VIEW ON ONGCStock at all time high
Stock in blue sky zone
Target 360
Stop loss 325
I am just representing my views
For educational purpose only.
ONGCNSE:ONGC
Looking good for Long term investment
Closed above 315, which is 10 breakout (Multi Year/ Decade Breakout)
Any dips near 290-310 is a good accumulation zone.
Close Below 285 is a worry.
Div Yield of ~3%.
ONGC self analysis - Strong patternONGC self analysis - Strong pattern\
1) Break The higher trendline in upcpming days
2) Good Shoudlers
lets see
ONGC UP MOVE??ONGC can give a good up move with a decent STOPLOSS for good targets
ENTRY= 322.5
STOPLOSS = 319.5
TARGETS = 332.5, 338, 342.5++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Please like or boost my idea if you like it or traded it
Thankyou
ONGC Witnesses a Multiyear Breakout - What's Next?
When analyzing the monthly chart, it's clear that the stock price has experienced numerous fluctuations.
In June '14, the stock reached a high near 315 level before taking a sharp downturn.
By March 2020, the stock price had plummeted to just 50 INR.
However, from that point, the stock began a strong upward movement with significant volume increase.
An ascending triangle pattern appeared on the chart, and the price successfully broke through the pattern to continue its upward trend.
Ultimately, the stock managed to surpass its previous resistance.
As long as it maintains above the 300 level, the price is likely to continue its upward trajectory.
Bullish break out in the stocks for this week 08/07/2024..
ONGC is a government sector company is trading around the resistance zone. If there is a break out of the consolidation zone good returns can be captured in the stock.
The stock has taken a good support from 20 ema which also gives a confidence to hold the stock for a swing trading.
Even on the daily charts, the stock has test the 200 ema and chance of it clearing the resistance level is high.
A round number figure of 300 can be seen as the next resistance as the stock will be trading in an uncharted zone after the break out.
Kotak bank has been trading in a range and the upper resistance zone is around 2050 levels. The stock is currently trading around 1850 levels and has taken support from both the moving averages on the weekly charts.
If the stock sustain the break out there are chance of it hitting the resistance level soon. The target for trading are there on the chart.
Long term stock positions can also be created in the stock as it seems to show some bullishness.
Wait for the price action near the levels before entering the market.
ONGC 1HRINTRADAY TRADE
- EARN WITH ME DAILY 10K-20K –
ONGC Looking good for Downside..
When it break level 322.65 and sustain.. it will go Downside...
SELL @ 322.65
Target
1st 319.45
2ND 316.90
FUTURE AND OPTION
ONGC JUL FUT – LOT 7 (Qty-13475)
ONGC JUL 335 PE – LOT 7 (Qty-13475) – PRICE (15.65)
Enjoy trading traders.. Keep add this STOCK in your watch list..
Big Investor are welcome..
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ongc oppertunitytry to break monthly resistance.failed and taking support from hourly support.major move may happen if sustains above 330
Life time high breakout 15-07-2024 Entry # 313 Stop # 263 T- 577Life time high breakout with strong volume, Perfect time start sip on that stock, and Price action suggest that it will go to 577 levels soon. Medium to long tern investment.
