ONGC trade ideas
Technical Analysis for ONGC (Long)On the daily time frame the stock broke out the down trend line with a good volume and is now waiting for a retest on the weekly chart for an uptrend. Since the stock just crossed the 200 EMA on the weekly chart there is a possibility on the upside.
Can go for long.
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.
