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JINDALSTEEL & POWER
Yesterday, the stock opened on a strong note and cleared the resistance of Rs 430. So far, the stock has gained over 17 percent in this month. The stock has formed a strong price volume breakout pattern on a short term time frame. The texture of the pattern suggests breakout action will continue in the near term if the stock is able to trade above Rs 425. Swing traders can expect an uptrend wave to continue up to 450-470 if they trade above Rs 425.

ONGC
As a result of the strong uptrend rally from Rs 135 to Rs 170, the stock is experiencing narrow range activity. However,on a daily basis, the stock is maintaining an uptrend formation and consistently trading above short-term averages, indicating a positive trend.In addition, the stock has formed a bullish candle reversal formation near its 20-day SMA, which indicates a fresh uptrend is likely from current levels. If the stock manages to trade above Rs 164 or 20-day SMA, we can expect an uptrend continuation wave up to Rs 177-185.