ONGC trade ideas
ONGC - Elliott wave analysis - ABC zigzag It is in B wave as abc correction in larger ABC zigzag corrective cycle down. C will start once the B wave will finish the corrective move.
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 GO DOWN FOR LITTLE CORRECTION AS PER THE DATA ONGC STRONG RESISTANCE LEVEL IS 105. THERE IS ONE NICE IDEA FOR GO DOWN AND EARN MONEY
TARGET -101
STOCK LOSS 105
Oil & Natural gas in CUP N HNDLE😅After uptrend & sideways movement on daily chart ONGC has formed cup n Handle.
Will continue uptrend? Lets check.....as its a continuation pattarn....
Also nearing daily demand zone.....
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
Big Break out in ONGC , keep an eye on itONGC giving a break out , after long time
Under performing, the BO IS on weekly chart so you can be long for 3 month to 1 year
Confirmation's ,- rsi , Ema, regression BO.
ONGC Go longONGC found good support at 108 to 111. Also price is reaching to apex of triangle with very good volume! Looking very Bullish ! Let's see!
ONGC on resistance -- INTRADAYONGC has touched the upper level of the channel and might correct some points to cool off a bit.
Ongc major suport taken after breakoutOngc on daily chart took support on 50 moving avg. Today and i would suggest to keep and eye on it as it may rise
ONGC making Head & Shoulder on Daily Time FrameThe structure of ONGC seems that it is making a Head & Shoulder Pattern on Daily Chart... Looking weak....
Note: Analysis for Education purpose , not a recommendation
ONGC { 15 M short }At resistance line forming an IB/ Doji , short if break .Rest is as per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
BUY ONGC retraced from supportONGC after the weekly breakout consolidating above support and good opportunity to buy.
buy around 95 -98
SL and Targets are mentioned.
ONGC 30MNBULLISH Bat
RSI MUST BE ABOVE 30
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
ONGC 15MNBullish BAT for SCALPING
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
Ongc { 30 M short }IB formed in gapped up scenario , Short if it breaks
Rest is as per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
ONGC WEEKLY ANALYSIS As we can see here ONGC following trendline and successfully recovered from the EMA support.
We can expect some good upper move through upcoming week.
Please suggest your views.
Thank You
