Sunday, 9 August 2015

ONGC stock started alert to buy signal on daily basis on chart for 9 Aug 2015

Daily chart



  • Buy signal generate on eod system
  • Buy above 284 level ( Candle high )
  • Time frame : 3-5 days
  • Target as per fib. Level : 292 / 299
  • Note : ONGC stock chart shows positive divergence found on daily and weekly basis 

Weekly chart



  ONGC closed up  11.900 at 282.850.  Volume was 148% above average (neutral) and Bollinger Bands were 10% wider than normal. 


  • Open     High      Low     Close     Volume___
  • 270.000  283.950  269.550  282.850   9,429,145

  • Technical Outlook 
  • Short Term:               Neutral
  • Intermediate Term:    Bearish
  • Long Term:               Bearish

  • Moving Averages: 10-period     50-period     200-period
  • Close:                      271.85         297.27         332.18
  • Volatility:                    41               30               36
  • Volume:                 4,880,954      3,387,095      4,241,780




   ONGC is currently 14.8% below its 200-period moving average and is in an downward trend.  Volatility is extremely high when compared to the average volatility over the last 10 periods.  There is a good possibility that volatility will decrease and prices will stabilize in the near term.  Our volume indicators reflect volume flowing into and out of ONGC at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on ONGC and have had this outlook for the last 26 periods.    Our momentum oscillator has set a new 14-period high while the security price has not.  This is a bullish divergence.  



About

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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