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...
ONGC looks like its ready for its next move down, however, a correction on the 240 needs to happen that could confirm the same. This looks like its part of a bigger B wave, effectively making this one of the pieces to finish for the B wave completion. There could be a move down to retest the recent lows and then we might see one major up move.
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
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.
Happy New Year to all. New year has arrived with new opportunities. It is always good to start a new year with profitable note. Our short NIFTY and other selected stocks positions ( via puts of courses ) is well in green and now it looks like the test of solid support levels near 8200 / 8000 is inevitable in coming sessions.
Many of the trades we have...
After a long slide from 450 to 200, finally it looks like ONGC ( Oil and Natural Gas Corporation of India ) wants to go higher or at least stabilize near this band. We are dabbling with long entries scattered near 220. There is still lot left in the tank if stock starts moving in the right direction.
Next significant hurdle comes in around 260 and after that...
Three reasons ;-
1.) Close above 200 Day MA after a long time
2.) Breaking out of the triangle and a strong resistance line at 225.
3.) Break out above 211, strong resistance trend line.
