ONGC was shared on AUG 30, 2021 with following buy position
Buy Option 1 : Buy @ 118 TO 120 (High Risk)
Stop Loss :
Option 1 10%
Option 2 : As per your risk profile.
Option 3 : Below 108 ON WEEKLY CLOSING BASIS
Target 1 : 128,150
Risk : Medium
Duration : 1 to 4 Months.
Note : Monthly closing above 128 will confirm breakout
And you can see the returns.
ONGC looks strong after a period of small volume candles.
The theory behind such moves is - There is a period of accumulation happening over a time and then a sudden surge in volume to take price up. The price rise needs to follow through to keep the trend going. If you look at chart, there are big green candles and small red candles after the surge. This makes...