ONGC: Medium Term Trend bullish

١٣ أكتوبر ٢٠١٦

The stock has been moving up steadily and undertone looks bullish. Price has cleared resistance and the supports are holding: a classic sign of uptrend. Am expecting a rally to 298.8.

٢٤ أكتوبر ٢٠١٦

أغلقت الصفقة: تم الوصول للهدف

Price is within the striking distance of the target mentioned earlier. Tighten stops and/or exit partially.

٣ نوفمبر ٢٠١٦

ملاحظة

Price reaches the target and cools off a bit. Have a look at the daily chart featured below.



Price has broken below the red-dashed-support line. In all probability, expect a slide to the lower red support line. This would be confirmed if the price fails at the broken support line at 275-ish, which would now act as resistance.