Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* On an hourly chart, the stock has given a breakout of its Falling Wedge Formation which is a Bearish Reversal pattern and indicates a downside movement in the counter.
* Moreover, the stock has given a close below its 21 & 50 Hourly Moving Average which shows a negative rhythm in the counter.
* On a weekly chart, the stock has given a breakout of its Strong Support which was placed at 127 level, which suggests a weakness in the counter.
* A weekly momentum indicator RSI reading is at 25.55 level with a negative crossover which points out for a negative breath in the counter.
* Based on the above technical structure, we are expecting a further downside movement in the counter in a few trading sessions.
Sell Oil and Natural Gas Corporation Ltd @ 121.50-122.20 Stoploss 127 Target 111.10
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer https://choicebroking.in/disclaimer
Above views are of the author and not of the website kindly read disclaimer