 "The stock of ONGC has negated the formation of lower high and lower low formation and is showing signs of reversal")
BUY GAIL | TARGET: Rs 140 | STOP LOSS: Rs 122
The stock has provided a breakout from a symmetrical triangle formation on the daily chart. It is now on the verge of a breakout from its upper end of the Bollinger band which is placed at 129 levels; above that the immediate target we can expect is of 140 levels. The momentum indicators and oscillators are in the buy mode on the weekly scales, which also supports the positive momentum. The stock also witnessed a built-up of long positions with the addition of 14 per cent open interest.
BUY ICICIGI |
