ONGC Doji - Price Action between Fib Retracement Levels

5 Tem 2020

ONGC has set up a value area last week between the 0.786 and 0.618 Fib Retracement levels with a value price of 84.
The stock made a doji inside the lower part of the value area on Friday which was in line with overall NIFTY movement.

Positional Ideas:
Go Long above 84 for 86
Short below 80.5 for 78, 77, 76

Scalp between 81 and 84 levels

Don't take positional trades In-case of gap openings. Check the price trend and NIFTY trend - follow ORB

6 Tem 2020

İşlem aktif

Buy Triggered at 83 for T1: 84 and T2: 86

6 Tem 2020

İşlem aktif

T1 Reached; additional buy triggered for 86 and beyond

6 Tem 2020

İşlem kapandı: hedefe ulaştı

Exiting Intraday positions

6 Tem 2020

Not

The idea is relevant for tomorrow; will re-enter

8 Tem 2020

Not

Its still in the value area. Don't take short positions unless Support at 80 gets broken with volume