ONGC: Chart set up looking good to buy

25 พ.ย. 2022

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