ONGC
ONGC Short Term Reversal TradeThe stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 1:1
SL is placed below multiple major support zone and target is place near swing and channel high.
Try To Exit before earnings disclosure if profit reaches around 10%.
Note: As the market is under selling pressure, enter only after confirming a reversal.
ONGC : BUY Signal Generated.Strong MACD , StocRSI parameters, and the recent pullback show that if the trend continues for the short term, we can see the Scrip hitting the two target levels. The Parabolic SAR has already given a BUY signal, with all parameters in tandem we can see the same happening.
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
ONGC is clearly Sell on RiseONGC has been making lower top lower Bottom and we could get opportunity to sell them tomorrow
If ONGC Opens below 102, then go ahead and sell them.
Else you can sell around 103-104
Stop loss can be around 105
And once it breaks 100, it can go down faster towards 98, 95, 93