ONGC: Chart setup Follow up and important levels
ONGC
- This is a follow up on ONGC (idea posted on 30 Dec 2021)
- the stock has seen momentum once we saw breakout from the down trend channel around 148
- despite the broader market volatility and weakness, ONGC has been one of the strong candidates who has stood tall
- it is now positioned at another important level... near the top made in Oct 2021
- if the red zone is crossed and sustained, it would give another breakout and target zone for the breakout would be around 185 / 205 / 213 levels ( the final target is consistent with our view posted on Sept 22, 2021)
- Important Support at 162 / 160 / 158 and 50 day EMA support is around 153 odd levels
Take care & safe trading....!!
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
- This is a follow up on ONGC (idea posted on 30 Dec 2021)
- the stock has seen momentum once we saw breakout from the down trend channel around 148
- despite the broader market volatility and weakness, ONGC has been one of the strong candidates who has stood tall
- it is now positioned at another important level... near the top made in Oct 2021
- if the red zone is crossed and sustained, it would give another breakout and target zone for the breakout would be around 185 / 205 / 213 levels ( the final target is consistent with our view posted on Sept 22, 2021)
- Important Support at 162 / 160 / 158 and 50 day EMA support is around 153 odd levels
Take care & safe trading....!!
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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