ONGC share price daily chart technical analysis
ONGC share price on last trading session closed at 288 with loss.on daily chart ONGC share price trend and momentum both bullish.
on daily chart,ONGC share price trading above all short term averages.on downside 284 is 3 month average and strong support on closing basis.below that 280 is week average and 272 is month average remain as supports.on upside 320-350 are previous tops/bottom resistance zone for upcoming time.indicators also on daily chart shows bullish momentum.
from short term view,traders can stay long with stoploss below 270 and expect target at 320 and then might be 350 on upside.
ONGC share price weekly chart technical analysis
ONGC share price on weekly chart shows negative closing in last week.on upside 292 is 12 month average and 295 is 6 month average remain as strong resistance levels on weekly chart.on downside 272 is 2 years average and last support on weekly chart.on upside 290-320-350 are multiple resistance levels on weekly chart.while on indicators momentum is slowly building on bulls side.
here also medium term investors can go long with strict stoploss below 270 and expect same target levels of 320-350 on upside in next 6-12 weeks time frame.
ONGC share price monthly chart technical analysis
ONGC share price on monthly chart shows positive gains.on chart trend is bullish but momentum is some what mixed.
on monthly chart,ONGC share 5 years average is 216 and good for re entry point for investors on any major correction.250 is 3 years average and already touched in last correction and now showing reversal/bounce back here.250 also remain as strong support for now.
on chart,ONGC share price is bull market started in 2002.from that point given almost 1000% return for investors with spit/bonus/dividend adjustment.
ONGC is major blue chip company for india and must remain in portfolio those have long term on india story.
for ONGC share price my personal view is accumulate in between 200-250 zone and keep in portfolio for target 410-480.which is expect in next 2-3 years time frame.last correction was buying opportunity and those brought this share in that correction must hold it for given targets.