Oil & Natural Gas Corporation Ltd. CMP— Rs 283.10
Technical Outlook & Trading Strategy:-
The Share price of ONGC has registered a strong bounce back from its weekly support level of Rs 269 levels. On the daily chart the stock has closed above its short term moving averages. We believe that the stock could move up to the levels of Rs 292 -Rs 295 /Rs 300 in the near term.
We recommend traders to buy at current levels and again on pullback to the Rs 280 – Rs 278 with a stop loss placed below Rs 273 levels.
