ONGC changing the trend and SBIN resuming the up trend

As per our analysis, ONGC changing the trend and SBIN resuming the up trend. These two stocks made significant difference in the trend on Friday from Nifty 50 shares. Both the stocks have different historical patterns. These stocks show positive momentum and likely to gain in the recent days.

ONGC

The stock was not participating the recent rally. While Nifty 50 hits historic high, where ONGC was trading well below the 52 weeks high of 211 levels. Friday the stock closed with 7 rupees profit to close above the 186 levels. The reversal is likely to break the last three months downtrend and could provide meaningful uptrend from here.

ONGC showing positive momentum in daily candlestick chart
ONGC showing positive momentum in daily candlestick chart

SBIN

State Bank of India is on the other hand where the stock had participated the recent rally and hit 52 weeks high recently. Over the last three weeks the stock had choppy trading session. Friday the stock has closed with profit of 7.35 rupees in National Stock Exchange.

SBI showing positive momentum in daily candlestick chart
SBI showing positive momentum in daily candlestick chart

Muthuraj Paulraj

Passionate about investing and trading in Options.