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Published on 3/10/2019 10:06:14 AM | Source: Religare Securities Ltd

Sell Oil and Natural Gas Corporation Ltd For The Target Rs.123 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #ONGC #Oil and Gas Sector #Trading Report #Religare Securities Ltd

Oil & Natural Gas Corporation Limited (ONGC)

ONGC has been trading in a downtrend for the last several years and there’s no sign of reversal. After the sharp decline from 180 to roughly 115 levels, it witnessed marginal bounce but couldn’t surpass the hurdle around 140 levels, which result in formation of a fresh shorting pivot. Traders can go short in the mentioned zone.

Recommendation

Sell Oil & Natural Gas Corporation Ltd Oct Futs @ 130-132 Stoploss 134 Target 123 CMP 129.35

 

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