SWING IDEA - ONGC
Updated
Oil and Natural Gas Corporation (ONGC), India's largest oil and gas exploration and production company, is showing technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Target - 335
Stoploss - Daily close below 260
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Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 285 Resistance Level: The 285 level has been a significant resistance zone and has been tested multiple times. The price is now attempting to break through this level, indicating strong bullish momentum.
*Bullish Marubozu Candle on Daily Timeframe: The recent formation of a bullish marubozu candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement.
*Breaking 5+ Months Consolidation with Volumes: The stock is breaking out of a consolidation phase that lasted over 5 months, supported by increased trading volumes, signaling a potential new bullish trend.
*Trading Above 50 and 200 EMA: The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Target - 335
Stoploss - Daily close below 260
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
made a high of 8%++Note
11%++Note
made a high of 15%+, close to our target , HOLD!Trade closed: target reached
target achieved : 17%++
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