ONGC trade ideas
Buy ONGCONGC looks good to buy for all time frames. A breakout is soon possible indicating a good bullish run towards 190 in short term, with Crude Oil on support ONGC may soon breakout. For long term a cross of 205 would open up gates for higher targets. There is a possibility of this stock never showing these rates again. This is an excellent long term pick and hence one should stay invested.
ONGC can be a potential buyAfter a strong upward movement its coming down but there can have 2 possibilities
1)Once consolidation overs(takes support(marked with green )at previous resistance then HH&HL formation in lower timeframe) can be a entry for LONG.
2) If it breaks below upper support level and then there might be chances that it will take support at next support level.
Again we have to wait for the confirmation then take entry for long.
Coal India - Near Weekly Support ZoneCurrently in Weekly Demand Zone,
Buy above 161.5 on closing basis and bullish candle formation.
Tgt 175, 182.5
SL 156
ONGC - w log - @ trendline support, bounce likelyONGC trading cheap vs crude, fair value close to 230-240 @ current crude levels. P/BV @ almost 1.0.
Dividend yield of 3.4%
target 180-82 in Oct Seriesthe stock has given a SMA cross over on daily charts where and had a minor correction till 21 day SMA. Stock has closed above 8 Day SMA and is now posied to hit 180-182 in this Series.
ONGC: short set up.After an impulsive rise, correction has set in, potential for correction is upto 158-168 levels. short with stop at 212
buy-198.50 , SL -192.70DAILY FINANCIAL WISDOM: Remember, the clever speculator is always patient and has a reserve of cash........
ONGC "laxman rekha"ONGC round.....be Long...good chane of cup and handle formation at later stage I am in from 236
ONGC Bullish Flage PatternNSE:ONGC 50 DAY MA Crossed above 200 DAY. Price is consolidating now. UpTreand target is 363 and stop loss 232
