If you Think Bull run in PSU will continue Then this Monthly Charts can be used as Investment purpose.
Resistance/ Support for adding positions or reducing size or trailing stoploss are clearly marked
These Stocks(ONGC/CANBK and others) can turn into leaders of Next Bull Run and current once fade into oblivion
Tread cautiously
Cheers!!!
ONGC is available at a value zone which is a supply turned demand zone for value investors. It can be a good bet but a risky one as it's a high beta so avoiding going in with all money should be preferred and accumulating it in a slowly and steadily manner. The recent price action is however still not so bullish so a confirmation candle will give you a headscarf...
Cup & Handel Patern Breakout
Technical Analysis
BUY : ONGC
CMP :- 173
Breakout Price :- 180
Targate 1: 193
Targate 2: 208
Targate 3: 224.60
This call is only for education prupas only any PROFIT & LOSS I am Not responsible
ONGC
The stock is looking poised to make an Inverted Head & Shoulders pattern.
Important levels to watch out for 188-194...sustaining above that level would strongly increase the chance of stock exploding on the up side...
Take care & safe trading..!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future...
ONGC - READY FOR BREAKOUT WITH CUP & HANDLE PATTERN.
Stock has been retraced enough in last 2-3 lyears. Now stock is ready for the breakout
along with the good price action.
