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OIL AND NATURAL GAS CORP.OIL AND NATURAL GAS CORP.OIL AND NATURAL GAS CORP.

OIL AND NATURAL GAS CORP.

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ONGC trade ideas

ONGC Looks Bullish NowThe price reached a peak of 344.80 on August 12, 2024, before entering a downtrend. It subsequently found support at the 283.45 level, followed by a period of sideways movement. Upon closer analysis, the price is exhibiting a bullish divergence on the daily timeframe and has rebounded from the daily support level of 283.45, indicating potential for a bullish move. This suggests the price could reach the 344 range or higher. This setup offers a favorable risk-to-reward ratio. Given these conditions, it may be an opportune time to consider adding to your portfolio for a swing trade or short-term investment. Additional quantity could be accumulated if the price retraces towards the daily support level.
NSE:ONGCLong
by MrSharelock
1
Technical Analysis of Oil And Natural Gas Corp (ONGC)Technical Analysis of Oil And Natural Gas Corp (ONGC) This chart depicts a technical analysis chart of Oil and Natural Gas Corporation (ONGC) on a 1-hour timeframe. The chart includes price action, indicators, and support/resistance levels. Key Observations: Price Action: ONGC's price has been on a downward trend. It is currently trading below its 200-day EMA (323.13), indicating a bearish bias. Support and Resistance: The chart identifies several support and resistance levels. The most prominent support level is the Buy Zone between 288 and 305. If the price breaks below this zone, the next target is 263. Indicators used for Technical Analysis: RSI (Relative Strength Index): The RSI is currently at 22.92, which is in the oversold territory. This suggests that the stock might be oversold and could potentially rebound. EMA (Exponential Moving Average): The 200-day EMA is acting as a resistance level. A break above this level could signal a bullish reversal. Overall Analysis: Based on the technical analysis presented in the chart, ONGC appears to be in a bearish trend. However, the oversold RSI and the potential support at the Buy Zone suggest that a short-term rebound might be possible. Traders should closely monitor the price action and indicators for any signs of a reversal. Disclaimer: This analysis is based on the information provided in the chart and is for informational purposes only. It does not constitute financial advice. Investors should conduct their own research before making any investment decisions. Do your own research because I am not SEBI registered person to suggest any stock to anyone and this is just my personal opinion about the stock and for education purposes only. Thanks for your support as always
NSE:ONGCShort
by ForexTrader4all
ONGC S/R Support and Resistance Levels: Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:ONGC
by zenthosh
ONGC KEY LEVELExplanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND GREEN) - In this the GREEN line is used to take long entry and the RED line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the RED line just below ( A trade can exit either when the price crosses the RED line or the 5 minute candlestick crosses the RED line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next RED line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The GREEN line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Leave a comment if you like my entry setup. This share is for educational learning purposes only, and I am not responsible for your profit or loss. Note: For more details, check the chart.
NSE:ONGC
by nandupk
ONGC - NO RESISTANCE!🎯 The chart is self-explanatory as always. 🎯 Price stayed in a range 🎯 A strong breakout candle broke the ATH 🎯 No technical resistance in sight 🎯 Oh, and it's a Public company :p ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times.
NSE:ONGC
by TheChartereds
4
ONGC - Are Intelligent Investors entering the Stock ?The Nifty PSE index in India has delivered a remarkable return of approximately 160% over the past two years. Many of the stocks within this index have already provided substantial returns, with ONGC notably achieving a return of around 150% in the last two years. Following such impressive performance, the question that naturally arises is: how much further can these stocks go? When we analyze ONGC at its current levels, several key events are unfolding: 1. Elliott Waves - The stock is currently in the major 3rd wave, as indicated by wave counts and its wave personality. 2. Major Breakout - The stock has broken out of a 10-year resistance zone after a period of strong consolidation just before the breakout. 3. Volume - Trading volumes have been significantly higher (almost three times the average volume) for three to four consecutive weeks, suggesting that smart money has entered the stock at this level. 4. Valuation Outlook - The current PE ratio of the stock stands at 8.3, while the industry average PE is 21.1. All these factors point towards a high probability of achieving another 50% to 60% upside to reach wave 3 targets. In terms of trading strategy, it is likely that the stock will enter a consolidation phase after the breakout or may move upwards before retracing to retest the breakout level. One approach could be to initiate a 30% position at this stage and consider adding the remaining 70% once the retest occurs or based on the future price developments, which I will continue to monitor and update accordingly. The key levels are clearly marked on the chart for reference Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
NSE:ONGCLong
by harshit22
SWING IDEA - ONGCOil 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 : 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
NSE:ONGCLong
by Visionary_Growth_Insights
10