Friday, June 21, 2013

ONGC

ONGC

ONGC is moving in a down ward channel and is broke down its 200 DEMA and have seen some correction.Stock also broke down the channel support. Stock is having a support in the range of 289 to 295.RSI looks little convincing forming a +ve divergence.

One can go long on the stock around this support area with Final SL at 288 for targets of 310.


2 comments:

  1. Stock reached our targets and we part booked our options and futures. We are waiting for the stock to give breakout of the channel shown in the chart. If that happens stock may see 327 - 334 levels.

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  2. we have a wonderful day with ONGC. We completely booked all our gains today early in the morning. Completely covered positions. We will where stock will stabilize.

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