It is a really crucial time for ONGC. There are two Wolfe Waves that has been formed and both are on the verge of getting triggered. The level that is needed to be watched is 128. As the stock crosses and sustains the level of 128. Gradually 180 and 212 can be seen in long term time frame.
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Resistance taken Point 3 of the Smaller Wolfe Wave which stands to be at 127.60. And that is why Level 128 was mentioned earlier
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ONGC has failed to close above 128 several times. As a result it has been dragged down. Now at these levels or below we need to find reversal signals before going long.And the same will be updated in the idea section
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A clear Breakout. I expect ONGC to fly to a new high.
