ONGC trade ideas
ONGC - BuyBuy ONGC. The frustrating sideways movement in ONGC , indicates the completion of corrective Wave 4.
Its still traded at Weekly rising 20 EMA indicating uptrend to continue and more powerful moves ahead.
Break out above 120 would confirm the completion of wave 4. The target would be around 140. The SL would be 116.
SellSell current price this stock with stop loss above its high & target 1-- 110
Target2-- 100 to 96
ONGC on the verge of breaking out from a multi year resistanceDate 25th June 2021
CMP 221
ONGC has just breached the multi year resistance.
This is supported by the high crude oil prices in the international market.
Q4 results of 2020-21 was announced yesterday and the numbers are encouraging.
Buy on dips till 116
ONGC moving towards a high of around 134-138ONGC moving in a pattern since 20 Nov 2020 after giving a breakout at 74 INR. Since then, it has moved quite well till the current price of 125 INR. Next breakout should happen around 135-136
ONGC Cup and Handle formationBUY @ CMP
TGT - 141.65
SL - 112 on closing basis
Time Frame - 15 Days
There is a cup and handle formation on the daily charts of ONGC. It may retrace to 119.50 to test support and give a rally from there on.
Keeping a Stoploss is very important in this trade because the overall rally in the broader market seems a bit overbought and stretched.
Good to go LongStatistical Brief
High / Low₹ 127 / 64.1
ROE7.13 %
ROCE10.6 %
Debt to equity0.50
Return over 1year44.3 %
EPS₹ 0.72
Free Cash Flow₹ 29,777 Cr.
Sector Trend
Positive on Weekly Chart
Stock Trend
Positive on Weekly Chart
Pattern
Higher-High
ONGC Ascending Triangle BullishTarget 1: 130
Target 2: 150
Note : For educational Purpose , please do you own analysis before buying.
ONGC ready for a Long Journey aheadLooking at the pattern
BUY at CMP (125)
TARGET : 149/178/196
Time-Span: 2-6 months
ONGC: Another Oil sector stockWith an SL of 95 start accumulating it. It will consolidate on 120 before or after breakout.
Another Oil sector stock - you can choose between ONGC and IOC, have posted charts of both.
(IMP- Reliance can also give a good rally which will lead all the oil sector to perform well)
If you have any query feel free to ask in Comments or mssg me.
ONGC - Cup & Handle formationHigh volume breakout from cup & handle formation.
Good move can be expected above 119.
ONGC Break Out tradeBy Cup & Handle Pattern Break out and by price action analysis Target levels are marked for ST,MT,LT
CUP & HANDLE Pattern in ONGCBUY above 123
TARGET : 133/150/213
STOP LOSS : 98
Time Span : 2-6 Months
ONGC - Crossing Price rejection ZoneONGC - finally breaking the trend line and crossing Price rejection Zone
Currently above 50 / 100 / 200 EMA's and good volumes can be seen on daily basis.
Possible 129/149 and above in short period of time ..
Add to watch list and do own analysis before trading.
ONGC :: Looking BullishCup and Handle Pattern on Daily Chart, Looking to break by tomorrow...
Next big Resistance is around 133 levels
ONGC set to blastCup and Handle formation in 1H tf
Handle having Tripple bottom. BO done.
Target-125-145.
For educational purposes.
