Intraday Strategy for ONGC 5 April 2021
For Educational Purpose Only :
Go Long above 105.3 for Targets of 106.25, 107.7
Reasons :
1. On 15 min timeframe chart stock will give a trendline breakout when it crosses 105.3.
2. Stock formed a double bottom pattern (shown in yellow color), which is a bullish pattern, around 0.618 Fibonacci Level
3. On a daily timeframe chart stock formed a Bullish Engulfing pattern.
Note: Here our SL will be the swing low of the breakout candle.
Go Long above 105.3 for Targets of 106.25, 107.7
Reasons :
1. On 15 min timeframe chart stock will give a trendline breakout when it crosses 105.3.
2. Stock formed a double bottom pattern (shown in yellow color), which is a bullish pattern, around 0.618 Fibonacci Level
3. On a daily timeframe chart stock formed a Bullish Engulfing pattern.
Note: Here our SL will be the swing low of the breakout candle.
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