Short Term Delivery Call
ONGC Strong Buy Above 161 Stoploss 149 Target 167---175---190
Graphical Presentation :
Technical Presentation :
On Daily chart the counter had been in a very deep correction from january 2018 till date. If we draw a fibonacci Retracement from recent low of 151.80 (52W Low) to recent top of 212 (52W High) than 38% retracement come at 175 which should be touch in coming days as per the study if it hold the low price. Also the counter has today tried to breakout from downward trendline resistance of 161 but it got failed to give close above it but looking to today's volume we can presume that in coming days it should resume its upward movement and should give bounce back to our suggested target zone.
