ONGC momentum depreciates and RSI negative divergence is observed in Weekly and Daily chart. Hence the 7.5Y trendline may be retested if the direction reverses from this level.
If the Monthly 200MA level is broken down, price may retrace upto 61.8% breaking multiple support level. However have to wait the watch what the Feb Month candle indicates end of this month.
Note: Am not SEBI registered analyst. This is my personal analysis. Comments are welcome if you see a different view.
If the Monthly 200MA level is broken down, price may retrace upto 61.8% breaking multiple support level. However have to wait the watch what the Feb Month candle indicates end of this month.
Note: Am not SEBI registered analyst. This is my personal analysis. Comments are welcome if you see a different view.