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
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.