ONGC: Channel trade potential
ONGC
- This is a follow up on my previous idea when stock was trading at 140 odd levels
Chart set up
- The stock seems to have given a fresh breakout on hourly charts from yellow channel channel
- 21 hour EMA and 63 hour EMA around 148 / 146 respectively
Target potential for the stock 156-158.50
Use the 21 hour or 63 hour EMA as important Support level to watch out for
Risk Profile
The set up provides a risk::reward ratio of 1::3
Trust the idea helps in planning your trade.
Take care & safe trading..!!!
To trade with me, hit the Like button and Follow
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 my previous idea when stock was trading at 140 odd levels
Chart set up
- The stock seems to have given a fresh breakout on hourly charts from yellow channel channel
- 21 hour EMA and 63 hour EMA around 148 / 146 respectively
Target potential for the stock 156-158.50
Use the 21 hour or 63 hour EMA as important Support level to watch out for
Risk Profile
The set up provides a risk::reward ratio of 1::3
Trust the idea helps in planning your trade.
Take care & safe trading..!!!
To trade with me, hit the Like button and Follow
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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