ONGC enters accumulation zone

업데이트됨
ONGC
CMP 168

Observations

- From Feb 2016 to Feb 2017 The stock has risen from 125 odd levels to 211.80

- However since then the stock is currently in down trend

- Now 168.5 & 158 represents 50% retracement & 61.8% retracement of the rise from 125 odd levels to 211.80 respectively


If this zone holds as support then that could be early signs of reversal

[Closer to 158-162 will be worth accumulating from risk:reward ratio perspective]


Confirmation will come once it starts sustaining above 178-182 zone levels

This is a medium term view & 220-240 levels can be looked as initial target zone

Stop can be kept a tad below 145 on weekly closing basis for the current setup


Take care & plan your trade accordingly...!!!

Happy investing
액티브 트레이드
candlestick pattern has given signs of reversal... Game on...

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