Tuesday, August 25, 2015

TECHNICAL ANALYSIS OF ONGC & DAILY CHART

FUTURE :
“BULLISH ONGC ABOVE 235 TGT  240/250” 
“BEARISH ONGC BELOW  230 TGT 225/215”
DAILY CHATS




















Overall trend of the stock is weak, it is accumulating at the lower levels and is sutaining below the falling trend line. It is likely to show recovery with the breakout of the trend line at the level of 235. Further the stock can trading with the RSI above 30, in near term buying opportunities can be seen in it. One may take long position in the stock above the level of 235 with the stop loss of 325, where longs can be covered at the levels of 250.
DAILY AND WEEKLY SUPPORT AND RESISTANCE FOR ONGC
Daily
Level
R5
R4
R3
R2
R1
BULL
LOC
BEAR
S1
S2
S3
S4
S5
244
239
235
232
230
229
227
225
223
222
219
214
210

Weekly
Level
R3
R2
R1
REVERSAL
BULL
LOC
BEAR
REVERSAL
S1
S2
S3
 296
 277
 264
249
245
241
237
232
217
205
193
SIMPLE MOVING AVERAGES
Days
BSE
NSE
30
272.96
272.93
50
287.30
287.26
150
311.16
311.15
200
323.88
323.90

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