ONGC
- This is a follow up on my previous idea when stock was trading at 140 odd levels
Chart set up
- The stock seems to have given a fresh breakout on hourly charts from yellow channel channel
- 21 hour EMA and 63 hour EMA around 148 / 146 respectively
Target potential for the stock 156-158.50
Use the 21 hour or 63 hour EMA as important Support level to...
In this chart I've shown The white lines as support and resistance. once there is a breakout on either side The red and green lines are the targets on each side.
But the MACD has both EMA lines going upwards so The trend is probably going to be in bullish side.
Analysis Dated on 30/12/2022
So,
the BULLISH trade would be:
Buy: 151 (if clear breakout)
Target-1:...
#ONGC channel breakdown..can short below 132 for TG 120
As per pole n flag pattern 2nd Tg can be possible i.e 100-105.. keep in mind, selling always fast...#subhashish bhai fan. For educational purpose only
NSE:ONGC ONGC has lived up to our expectation and is nearly at the high of our estimates . This is likely to continue higher due to breakouts in many sectors including a possible breakout in oil and natural gas.
Oil Stocks rallied in the past few days mainly due to the fall in international crude prices. This will in turn increase the profitability of the Oil Companies. But this scenario won't exist for long. The oil price will rise within a few weeks and the domestic oil price will not increase accordingly due to multiple factors like preventing inflation and the...
#RECLTD ... ✅
INTRADAY/ Short term delivery call as well
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a huge movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
ONGC
- After making a low of 119.85 on July 6, 2022 the stock has managed to defend the low thereafter
- since Sept 28, 2022, the stock has made a higher bottom higher top formation
- managing a close above the yellow line could open the doors for further upside potential of 154 / 158 / 166
Buy at CMP and on dips towards 136.50
SL Keep a SL at blue line (...
r: R is 1: 2
Rest as per Charts
Note -
One of the best forms of Price Action is not trying to predict. Instead of that, ACT on the price. So, this chart says "were" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level that says "Buy if it breaks, " you should not buy at all.
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I use shorthands for my trades....
![ONGC: [ Positional ] ONGC Long Setup](https://s3.tradingview.com/3/3YcqYj9i_mid.png "[ Positional ] ONGC Long Setup")
