ONGC Breakout.??

ONGC Breakout Huh....(Click to enlarge)

               Market is not in the mood either to go up or go down. Better way is to be stock specific and trade with strict Stoploss. One of the break out I have found while scanning is ONGC. Have a look at the chart and one can see Rectangle Break out. According to me it should do well if sustain above the levels of 1320. Break out supported with higher volumes.First resistance will be of 1350 and if it sustains above that it may go upto 1395(If backed by The Market). For a short term Trade Stop Loss should be of 1320 which is its break out point.

Please don't take it as trading recommendation. It is just my view.
Please share your thoughts on this..


Cheers
Chirag CM