- ONGC Price has came out of its range post its long consolidation since October 2024.
- Formation of base over base, and then breakout.
- Current Price > 50 > 150 > 200 SMA.
- Initiative moves by buyers, rally on volume and rest in consolidation.
- During the rest period the price has contracted on the right side and on the top end of the consolidation phase.
- Relative strength has gotten better in mid and short term.
- Also, the Nifty Oil and Gas Index structure looking relatively stronger over mid and short term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.