ONGC: Chart set up looking good to buy
ONGC
- After making a low of 119.85 on July 6, 2022 the stock has managed to defend the low thereafter
- since Sept 28, 2022, the stock has made a higher bottom higher top formation
- managing a close above the yellow line could open the doors for further upside potential of 154 / 158 / 166
Buy at CMP and on dips towards 136.50
SL Keep a SL at blue line ( around 130 ) initially on closing basis and later trail SL to green line
F&O trading strategy
Sell 135 Put Option
Buy 130 Put option
Profit potential of approximately 10% on Capital
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
- After making a low of 119.85 on July 6, 2022 the stock has managed to defend the low thereafter
- since Sept 28, 2022, the stock has made a higher bottom higher top formation
- managing a close above the yellow line could open the doors for further upside potential of 154 / 158 / 166
Buy at CMP and on dips towards 136.50
SL Keep a SL at blue line ( around 130 ) initially on closing basis and later trail SL to green line
F&O trading strategy
Sell 135 Put Option
Buy 130 Put option
Profit potential of approximately 10% on Capital
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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