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Published on 30/05/2019 9:54:42 AM | Source: Religare Securities Ltd

Sell Oil & Natural Gas Corporation Ltd. For Target Rs. 165 - Religare Securities

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

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Oil & Natural Gas Corporation Limited

ONGC is likely to see fresh decline, after its failed attempt to cross the resistance hurdle around 180. It looks slightly overbought too, which further adding to the confirmation. We advise creating fresh shorts in the given range.

Recommendation

Sell Jan Fut Oil & Natural Gas Corporation Limited (ONGC)  @ 174-176 Stoploss 180 Target 165​​​​​​​​​ CMP 172.85​​​​​​​

 

 

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