ONGC has broken down below the long term wedge pattern. It should continue its downward movement below the wedge. In addition it also has a Head and Shoulders pattern which has already broken down. The volume has been climactic as well.
Bets off if it goes back inside the wedge and does a breakout above. It will turn very bullish in that case, but until that...
USOIL is trading in a broadening pattern. It just tested the support zone. If it is able to hold the support then it is likely headed for the top of the pattern. All bets off if the pattern is broken downwards.
Disclaimer: Not a recommendation to buy or sell.
Long term chart is also posted here.
USOIL is trading in a large triangle on the monthly chart. It has broken down the triangle. It is possible that it is a fakeout.
I see RSI is oversold on Monthly chart. Watch out if the price comes back into the triangle then it turns the trend in the long term.
Short term chart is also posted here.
Disclaimer: Not a recommendation to buy/sell.
Infosys has been moving in the long term channel. It has presented opportunities to buy and sell within the channel. Watch out for the break of the channel downside in the long term. If and when it does, it will indicate that the trend has turned from bullish to bearish.
Short term view also been posted...
Consider it a Rising wedge or a flag/pennant (on longer timeframe). Both in my view are bearish formations in current context. Look out for the breakdown of the wedge. Target should be recent low atleast.
However, I also see a cup and handle formation, therefore, bets off if the recent high is taken out and goes above the wedge formation.
Disclaimer: Not a...