ONGC: Chart set up and important levels to plan your trade
ONGC
Observations
- stock is currently in short term downtrend
- stock trading below it's 20 day and 50 day EMA currently around 141 and 144 respectively
- 200 day EMA currently around 129
128 acted as resistance previously and could possibly act as Support now
- Blue Trendline support also comes around 130 odd levels
- So we see multiple support levels around 128 - 130 odd levels
Momentum might come on sustaining above 144-148 zone.
Medium term target 158 and on a slightly longer term horizon the stock may attempt 185 / 220 odd levels
There you go. Important levels has been given. Trust this would help you in planning your trade.
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
Observations
- stock is currently in short term downtrend
- stock trading below it's 20 day and 50 day EMA currently around 141 and 144 respectively
- 200 day EMA currently around 129
128 acted as resistance previously and could possibly act as Support now
- Blue Trendline support also comes around 130 odd levels
- So we see multiple support levels around 128 - 130 odd levels
Momentum might come on sustaining above 144-148 zone.
Medium term target 158 and on a slightly longer term horizon the stock may attempt 185 / 220 odd levels
There you go. Important levels has been given. Trust this would help you in planning your trade.
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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