ONGC – Cup Pattern

here the trade plan will include creating a long position @price of 241.8, which occurs on January 1st, 2016. The rounding bottom forms over almost for a period of a year, and we buy the stock in sep at the planned entry point price and sell it off in late nov(@ a price of 290.8). It is critical to decide the entry point here, as there can be different interpretations of when the rounding bottom will cease to continue.