ONGC trade ideas
ONGCOngoing trend is up and the intermediate corrections in the current rally stop at the 38.2% Fibonacci Retracement level. Expect a new high in the ongoing rally!
ONGC- Triple TopONGC has formed the triple top and now stock can move down if not able to hold 148-149 level.
ONGC : NSE : LONG : BETTER THAN EXPECTED Q3 RESULTSONGC : NSE : LONG : BETTER THAN EXPECTED Q3 RESULTS
LONG @130-138 TARGET@145-150 TARGET 2 @165
NSE:ONGC Sell For 18 Dec 2018NSE:ONGC sell initiate for 18 Dec 2018 using 30 minutes chart based on Fibonacci levels,
check below Sell level :
Sell Below : 146.55
Stop Loss : 150.4
Target : 144.55
ONGC look for buy.potential upside movement is visible, hard to tell how high it will go it might be part of correction or start of upward movement.anyway, up move is due so take it if you like.
Buy ONGCONGC looks good to buy for all time frames. A breakout is soon possible indicating a good bullish run towards 190 in short term, with Crude Oil on support ONGC may soon breakout. For long term a cross of 205 would open up gates for higher targets. There is a possibility of this stock never showing these rates again. This is an excellent long term pick and hence one should stay invested.
ONGC can be a potential buyAfter a strong upward movement its coming down but there can have 2 possibilities
1)Once consolidation overs(takes support(marked with green )at previous resistance then HH&HL formation in lower timeframe) can be a entry for LONG.
2) If it breaks below upper support level and then there might be chances that it will take support at next support level.
Again we have to wait for the confirmation then take entry for long.
Coal India - Near Weekly Support ZoneCurrently in Weekly Demand Zone,
Buy above 161.5 on closing basis and bullish candle formation.
Tgt 175, 182.5
SL 156
ONGC - w log - @ trendline support, bounce likelyONGC trading cheap vs crude, fair value close to 230-240 @ current crude levels. P/BV @ almost 1.0.
Dividend yield of 3.4%
target 180-82 in Oct Seriesthe stock has given a SMA cross over on daily charts where and had a minor correction till 21 day SMA. Stock has closed above 8 Day SMA and is now posied to hit 180-182 in this Series.
