ONGC--Observations:
---->> Price reached the strong Resistance at 165-167 zone.
------->>previous strong sell off happens here, after a long time it is testing Supply zone again.
------>> Strong fall and weakness in buyers is observed.
-------->> Look for sell side opportunity or buy on breakout of this zone.
ONGC breaking the Higher high and Higher lows pattern. As the Indian markets are reversing from a important Resistance zone. We can see a good downfall in this stock for upcoming days.
We can expect the first nearby target of around 119 levels and further low can be seen in case the market falls drastically.
Trade safe. Manage risk. Be profitable.
Please follow...
This time trying new things with a line chart of Trendline breakout, Support zone, fibbo retrecment of 0.5%
buy at the current level
sl is 113.80
target is open
ONGC has been making lower top lower Bottom and we could get opportunity to sell them tomorrow
If ONGC Opens below 102, then go ahead and sell them.
Else you can sell around 103-104
Stop loss can be around 105
And once it breaks 100, it can go down faster towards 98, 95, 93
