Bull Swing | DB breakout Hi Traders,
Weekly the market has taken the trend line support and in a bull trend.
At daily there is DB neckline breakout and change of trend, the re-test in daily formed a swing too.
Over all the trend in weekly and Daily looks bullish.
Entry, Tp and SL levels are mentioned in chart.
Strategy :: sbull.co
ONGC
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.
ONGCNSE:ONGC
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
10 years breakout PSU stock2014, June through September stock attempts to
progress beyond this stage but are unable to
comparison to 2014 volume and Todd's volume is excessive,
which provides confidence regarding breakout
look at the last 6 candles
around 6 months stock trying to break this level,
This is my study on a chart; there is no recommendation to buy or sell
Don't go to my study
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 -
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@visionary.growth.insights
ONGC-Swing Buy-Triangle broken?NSE:ONGC
05.07.2024
Buy 284
Target 326
Stoploss 262
Risk Reward- 1:2
1.Descending triangle broken by crossing previous
previous lower High. Retracement near LH 04 before breakout
2. 200 EMA Rejection & fake breakout. Also 21 & 20 EMA Crossover
3. Oil Gas sector in good movement
4. Price consolidation from last 3 months after great uptrend
5. Volumes increasing in green candles and with good strength in body
ONGC-Swing Buy-Triangle broken?NSE:ONGC
05.07.2024
Buy 284
Target 326
Stoploss 262
Risk Reward- 1:2
1.Descending triangle broken by crossing previous
previous lower High. Retracement near LH 04 before breakout
2. 200 EMA Rejection & fake breakout. Also 21 & 20 EMA Crossover
3. Oil Gas sector in good movement
4. Price consolidation from last 3 months after great uptrend
5. Volumes increasing in green candles and with good strength in body
ONGC Breaks Resistance with Strong VolumeOil & Natural Gas Corporation (ONGC) has broken above key resistance levels with strong volume, confirming a bullish trend. Traders are eyeing a potential target of 320 with a stop loss set at 290. Keep an eye on this stock for potential gains as it continues to show upward momentum.
Inverted Head and Shoulders: A Comprehensive GuideThe Inverted Head and Shoulders pattern is a popular and reliable reversal pattern that signals a potential shift from a downtrend to an uptrend. Understanding and identifying this pattern can provide traders with profitable trading opportunities.
Anatomy of the Inverted Head and Shoulders Pattern.
Left Shoulder: The price declines to a trough and subsequently rises.
Head: The price falls again, forming a lower trough.
Right Shoulder : The price rises once more before declining to a trough similar to the left shoulder.
Identifying the Pattern
To accurately identify an Inverted Head and Shoulders pattern, look for the following characteristics:
Three Troughs: The head should be the lowest point, with the two shoulders on either side.
Neckline: Draw a trendline connecting the peaks of the two shoulders. This line acts as a resistance level.
Breakout Confirmation
The pattern is confirmed once the price breaks above the neckline with increased volume. This breakout indicates a reversal of the previous downtrend and the start of a new uptrend.
Trading the Inverted Head and Shoulders
Entry Point
Enter a long position when the price closes above the neckline. To reduce false breakouts, consider waiting for a retest of the neckline as support.
Stop-Loss
Place the stop-loss order below the right shoulder to limit potential losses. This level provides a cushion against false breakouts and unexpected market movements.
Target Price
The target price can be estimated by measuring the distance from the head to the neckline and projecting this distance upward from the breakout point.
Example:
Example Reference image of chart ONGC on Daily Time Frame shared below
Distance from Head to Neckline: 62 points
Breakout Point: 280 points
Target Price: 342 points
Practical Example of ONGC chart
The neckline is drawn connecting the two peaks at 280 level. A breakout occurs at 280 level with increased volume and now candle closed bullish at 288 levels with Good intensity of Volumes.
Key Points to Remember
Volume: Volume should increase during the formation of the pattern, especially at the breakout point.
Timeframe: The pattern can form over various timeframes, but it is more reliable over longer periods.
Market Context: Always consider the broader market context and other technical indicators to confirm the pattern.
Conclusion
The Inverted Head and Shoulders pattern is a powerful tool for traders looking to capitalize on trend reversals. By understanding its structure and applying disciplined trading strategies, traders can enhance their ability to identify and profit from these patterns.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Happy Trading!
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
ONGC (Swing):ONGC (Swing):
ONGC is set for a 30-35 % up move due to the strong surge in energy sector.
Appropriate support, resistance levels are highlighted with target.
Keep adding between 190-200 with a SL around 180.
Trade offers a RR of 1:5.
Note: Do your own due diligence before taking any action.
Ontology Gas (ONG) completed setup for upto 26% pumpHi dear friends, hope you are well and welcome to the new trade setup of Ontology Gas (ONG) with US Dollar pair.
Recently we caught almost 55% pump of ONG as below:
Now on a 4-hr time frame, ONG formed a bullish Gartley move for the next pump.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
#GULFPETRO 48 Buy Recommended TGT 63 (30%) SL 43 - Rachit SethiaGULFPETRO 48.70
TGT 63
SL 43
RR > 2.5
RETURN ~30%
TF < 6M
NSE:GULFPETRO
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
#PETRONET 238 Recommended Buy - Rachit Sethia #stockstoWatch #PETRONET 238
Breakout at ATH and Retested
TGT 275 and open for above
SL Not Applicable
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
#EASEMYTRIP 44.70 Buy Recommendation - Rachit SethiaEASEMYTRIP 44.70
NSE:EASEMYTRIP
TARGET 58
SL 38
RR >2
TF <6 Months
Return ~30%
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
ONGC - DOUBLE MOVING AVERAGE CROSSOVER📊 Script: ONGC (OIL & NATURAL GAS CORPORATION LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500
📊 Sector: Energy, Oil Gas & Consumable Fuels
📊 Industry: Oil Exploration & Production
📈 ONGC has given crossover at double moving average.
📈 Right now RSI is around 56.
📈 One can take swing trade on the basis of Moving average crossovers.
🟢 Target 🎯🏆 - 157
⚠️ Stoploss ☠️🚫 - 127
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
18 June 2023 $ONGC: The oil money longNSE:ONGC
Reports came out yesterday stating that Russian oil is making up 30% of India's imports as stated India's largest publicly owned oil & natural gas firm. This comes at a crucial period for Russia after being hammered by economic sanctions, as we can tell with the war, it is firmly narrowing down into a war of attrition, and this war can only be funded if Russia feels economic security, this reason so puts greater trust into BRIC stocks and will definitely see some sort of financial injections in the coming year(s).
India hosting the largest population in the world is focused on 2 main objectives especially following the recent tragic train crash. 1. How can they lift the largest workforce in a similar manner to China up? 2. How can they compete neck to neck with Shanghai/LA/NYC/London/HK. Possessing a significantly advantageous location on the world map, India's future will soon be determined by policies made NOW. For India to achieve these objectives, at the very baseline, it requires public infrastructure and, none of that can run without the veins of oil.
Thus, this bet is betting on India's persistence and future in general on its most necessary growth factor commodity. The balance sheets show a well maintained company with efficient enough statistics.
Currently, it's Price-to-sales are about 0.29 with industry average at about 0.66. Meaning at the moment, ONGC is well undervalued. On top of that, its EBITDA is at 11.02 with Industry average at 8 exemplifying the company's healthy financial status and good cash flow. Beta value sits at 0.73 showing low volatility in comparison to the market and lastly, quarterly price to book is at 0.7 showing it is a great stock to buy at it's current value.
I have long term entries at this with buys at 150, 152, 146 and 139 respectively. I will be DCAing this over time but I don't expect a drop to these levels any time soon.
ONGC--Near its Demand Zone??Observations::
------>> Facing resistance in the zone @168 ,we have a demand zone in the range 162-160 range.
price is falling from resistance with consolidation, price may take the support of demand zone,
and again moving back to the resistance or resistance may broken.
Keep on buy side from this zone.
my eyes on this one i have both type of view on mrpl trading as well as investment
trading view = buy target 62/65 stoploss 55.50
but i will invest in mrpl in sip mode
i will share my stratergy with you and the reason for my view and let me know if like it or not and agree or not
some key stats for mrpl
mcap to sales = 0.09
price to cash flow =. 2.13
price to sales =. 0.09
pitroski score =. 9
price to earning=. 0.093
growth
loss in last two quaterly results highly fluctuating results net profit shoots up or goes in loss
88.58 % shares held by ongc and hpcl
has not given any dividend from 2019 onwards
debt ratio 2.27 total debt18437 crs which has been used until 2020 for setting up the refinery at low interest rates source unknown interest rate can go up in rising rates enviorment. thats the reason of share price fall till now as per sebi guidlines promoter holding has to be max 75% the promoters are holding more than that as of now so may be after june july in last time there can be some fpo or sale of shares from promoter group the promoters are not going to sell at cheap price that is understandable so undervalued as of now but for how long that is the big question i will buy this stock only 10% now and will add over 3/4 months coming max till june july on decline only todays price is max i am going to pay for this stock and on declines will add on fundamental basis for max 2 years period
i my view 56 is good level technically