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ONGC - Breakout - Ascending Triangle

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OIL & NATURAL GAS (NSE:ONGC)  
MilestoneCapital  
NSE:ONGC   OIL & NATURAL GAS
Trend Analysis Harmonic Patterns Triangle Ascending Triangle ONGC
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trendanalysis harmonicpatterns triangle ascendingtriangle ongc
ONGC has given a clean breakout from the ascending triangle pattern. Generally after the breakout , the price tends to retest the breakout level which is around 79-80. Therefore wait for the stock to retest the breakout point and make an entry only around those levels. Trading using this approach would give you a favourable Risk-Reward setup.

Target 1: 88
Target 2: 90
Target 3: 94

Stop Loss : 76
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