ongc

as 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.

Comment:

Given the idea to sell on rise a month ago for the levels as discussed and ONGC moved the same way, it wasn't able to sustain above 152 levels and now is open for 109 levels.
If the share will not move above 133 - 135 and sustain 109 is visible, recommending to wait for the right levels.