ONGC trade ideas
ONGC India Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
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Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
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Good Symmetrical PettrnThis is a very good Symmetrical triangle pettern who can break trendline up or down.
If this gone for positive break out we can buy and if this is in negetive break out we can sell our position.
ONGC Breakout The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Expanding wedge pattern in 1 hour time frameWe can go long when it touches and form a bullish price action on lower wedge
im bullish on ONGCim bullish on ONGS when it reaches 161.65 as there is imbalance by gap up and when market trend is in upside it moved down to cover that imbalance.
ONGC Low Risk High Reward SetupRSI: Above 60 on Monthly, Weekly, Daily Timeframes indicating momentum on the upside.
RSI MDRP UP on daily timeframe forming near 52 week high.
Energy Sector Outperformance.
NIFTY Oil and Gas Outperformance.
NIFTY PSE Index at Support.
Entry at EOD: 169.6
Stop Loss Trigger: Close below: 167.5 on Closing Basis on Daily Timeframe.
Note: Use Leveraged instruments if possible (Futures or ATM Options)
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Risk Disclosure
DISCLAIMER: Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures , stocks and options may fluctuate, and, as a result, clients may lose more than their original investment. The impact of seasonal and geopolitical events is already factored into market prices. The highly leveraged nature of futures trading means that small market movements will have a great impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains.
If the market moves against you, you may sustain a total loss greater than the amount you deposited into your account. You are responsible for all the risks and financial resources you use and for the chosen trading system. You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor.
All trading strategies are used at your own risk.
ONGC SHORT TERM SETUPONGC go for a buy if script breakouts and gives you s candle stick confirmation.
aggressive traders can buy after daily chart breakouts
conservative traders can wait for a retracement at new support along with a candle confirmation.
patience will be key also go for min tp of 15% , T1 and T2 are recommended targets
trade with trend is also used as an analysis
ongc bullishongc will follow rising oil futures (line chart) ?
intrinsic value 218
for education purposes only
ONGC1.FII / FPI or Institutions increasing their shareholding
2.F&O data suggests Long Buildup today
3.12.99% away from 52 week high
4.Mutual Funds have increased holdings from 6.03% to 6.52% in Sep 2021 qtr.
5.Stock with Low PE (PE < = 10)
6.RSI indicating price strength
7.Current price is less than the intrinsic value
8.1 Month: Delivery volume fell by -49.15%
1 Day: Delivery volume increased by 62.16% over 5 day average
9.Net Sales - QoQ Growth in quarter ended Sep 2021 is 12.85% vs -5.28% in Jun 2021
Consolidated Net Profit - QoQ Growth in quarter ended Sep 2021 is 191.74% vs -39.2% in Jun 2021
like if you agree , trade as per targets
Buy Ongc for Intraday/Btst Target of 159-161Level Mentioned
Buy in given zone
and set target in given zone
Very good chart pattern
Nice build up
LongGreat swing trade idea on ONGC 📈
breakout of parent trendline on weekly timeframe
Breakout of a bull flag on daily timeframe also price has taken support exactly at golden level of Fibonacci
ONGCONGC break trend line some day's ago and we miss the opportunity, but we can still enter in the trade, We can enter at "CMP" and the "TGT" is 170rs and our "SL" is 150.50rs.
ONGC Near BreakoutONGC breakout coming uptrend flag formation. now 200 EMA acting like resistance after it breaks.
Long Entry - 144 - 146 ( after retest upward resistance trendline )
Stop Loss - FIb 0.236 Level
Take Profit - 1) 149.55
2) 159.65
3) 170
ONGC- Price Action Analysis NSE:ONGC already has nearest to their supply zone (143 - 145) and has activated Harmonic BAT pattern with the level of 0.886.
BUY : Buying only applicable if price will cross above 145 level and sustains to close on daily basis with high volumes and good momentum.
SELL : If any rejection at 143 -145 , might activate Sellers for selling up to 128 -131 and breaking this zone creates tremendous sell off till 115.
NOTE : Safe trader can buy above 145 or wait till if price comes at 128 -131 and creates reversal confirmation candle.
