I have noticed an alternative pattern in ONGC
. This could play out if the previous major patter was an ending diagonal
. In the current pattern it is possible that ONGC
has finished the B wave of the ABC
and is now due for a C wave which should complete @ 150 kinda levels. A breakout to the lower side would confirm the continuation of the C wave and this seems to be highly probable, then followed by a possible up move. My view is that there is first a down move, then depending on the pattern that develops, there could be an up.