ONGC
ONGC is sitting with huge cash on its books. Forming a falling wedge which was broken out on 15th April.
Again stock formed a small falling wedge which is ready to gave break out yesterday. There is a trend line resistance at around 334 levels. Wait for the stock to move above 332 where it is a good buy for targets of 336/346/355. If stock closed above 356 then it will be a new break out for the stock to see more upside around 400 levels. Keep a strict SL @ 317.
ONGC is sitting with huge cash on its books. Forming a falling wedge which was broken out on 15th April.
Again stock formed a small falling wedge which is ready to gave break out yesterday. There is a trend line resistance at around 334 levels. Wait for the stock to move above 332 where it is a good buy for targets of 336/346/355. If stock closed above 356 then it will be a new break out for the stock to see more upside around 400 levels. Keep a strict SL @ 317.
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