ONGC: Monthly Breakout... Would it break free???
ONGC
- the stock looks good especially on any dips
- The stock has given a breakout on monthly chart (Breakout zone 115-118)
- Short term Target 150 / 157 / 169
- Medium term target 196 / 212
Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114.
https://in.tradingview.com/chart/ONGC/y34iLfza-ONGC-Chart-set-up-view/
Our view on 22 Dec, when the price was 90, we had again reiterated a buy
https://in.tradingview.com/chart/ONGC/YuHhDek2-ONGC-2nd-Opportunity-to-Buy/
June 2, 2021, when the price was 118 we had a buy call for a Cup and handle target of 128
https://in.tradingview.com/chart/ONGC/DinY94RS-ONGC-Cup-Handle-pattern-observed/
August 11 and Aug 30, 2021, again a buy was recommended ( once it triggered a SL and next time it hit the target)
https://in.tradingview.com/chart/ONGC/g5Yl8FNL-ONGC-Breakout-trade-potential-and-F-O-strategy/
We have a history in recent times and our view may be influenced. Also our cost of acquisition is much much lower.
So Please do your due diligence especially if you are considering ONGC for the 1st time at current levels.
Take care & safe trading...!!!
Like & Follow for more such ideas
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- the stock looks good especially on any dips
- The stock has given a breakout on monthly chart (Breakout zone 115-118)
- Short term Target 150 / 157 / 169
- Medium term target 196 / 212
Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114.
https://in.tradingview.com/chart/ONGC/y34iLfza-ONGC-Chart-set-up-view/
Our view on 22 Dec, when the price was 90, we had again reiterated a buy
https://in.tradingview.com/chart/ONGC/YuHhDek2-ONGC-2nd-Opportunity-to-Buy/
June 2, 2021, when the price was 118 we had a buy call for a Cup and handle target of 128
https://in.tradingview.com/chart/ONGC/DinY94RS-ONGC-Cup-Handle-pattern-observed/
August 11 and Aug 30, 2021, again a buy was recommended ( once it triggered a SL and next time it hit the target)
https://in.tradingview.com/chart/ONGC/g5Yl8FNL-ONGC-Breakout-trade-potential-and-F-O-strategy/
We have a history in recent times and our view may be influenced. Also our cost of acquisition is much much lower.
So Please do your due diligence especially if you are considering ONGC for the 1st time at current levels.
Take care & safe trading...!!!
Like & Follow for more such ideas
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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