In the Weekly Chart of GAIL ,
we can see that; it has respected the Trendline multiple times.
It might respect once again.
Plan your trade as per your Risk ratio.
NSE:ONGC
Reports came out yesterday stating that Russian oil is making up 30% of India's imports as stated India's largest publicly owned oil & natural gas firm. This comes at a crucial period for Russia after being hammered by economic sanctions, as we can tell with the war, it is firmly narrowing down into a war of attrition, and this war can only be funded...
Observations::
------>> Facing resistance in the zone @168 ,we have a demand zone in the range 162-160 range.
price is falling from resistance with consolidation, price may take the support of demand zone,
and again moving back to the resistance or resistance may broken.
Keep on buy side from this zone.
Oil and Natural Gas Corporation Limited (NS:ONGC) which holds a weightage of around 0.79% in Nifty 50 is looking weak on the chart. The company has a market capitalization of INR 2,08,832 crores and trades at a TTM P/E ratio of a mere 4.94. FIIs were seen trimming their stake in the company for the last three quarters, cutting it down from 9.97% in June 2022 to...
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.
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
Government company stock
PROS
Stock is trading at 0.66 times its book value
Stock is providing a good dividend yield of 7.13%.
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 38.3%
CONS
The company has delivered a poor sales growth of 11.7% over past five years.
Company has a low return on equity of 11.7%...
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
