ONGC: Chart set up and trading strategy
ONGC
Observations
- we are looking at daily candlestick chart pattern
- In Jan 2023 stock faced resistance around 151-152 odd levels
- mid Feb we see a breakout
- currently the stock is holding on above 151 odd levels
set up opens up doors for upside up to 166-168 odd levels
SL If stock is closing below 150 on daily charts
I have gone with a trading strategy which gives me complete protection below 152.
Focus on your Risk Management and plan your trade accordingly.
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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