ongcas the most of the stocks are and this one as well in the downtrend. on the weekly basis ONGC made big rounding bottom now it is breaking that break out level previous week it tested those levels and went up. and this time it is down with volume at the high side. if it doesnt move above 152 this coming week, it may move towards 131 as per fibo levels.
fundamentally as oil prices are reducing may impact the company.
for now sell on rise as it has made perfect bearish form.
these are my personal views please contact your advisor for taking the position.
