ONGC has given a breakout from trading range. The stock may touch Rs. 165. However, breakout is on low volume and RSI is already at peak levels. So the stock may fall to test the 150-level before making the move.
Wait for the price pattern to form at around 160 level. The stock has faced strong resistance multiple times at this level. A rejection from the 160-level can pull the stock down to 140.
