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Published on 28/12/2018 10:23:47 AM | Source: Religare Securities Ltd

Buy Oil & Natural Gas Corporation Ltd Put option For Target Rs. 12 - Religare Sec

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Oil & Natural Gas Corporation Limited (ONGC)

ONGC has been underperforming for last four years. Though it has witnessed a marginal bounce of late but couldn’t breach the resistance zone of short-term moving averages on daily chart, result in formation of a fresh shorting pivot. We advise creating fresh shorts in the given range through Put option.

 

 

Recommendation

Buy Oil & Natural Gas Corporation Ltd  Jan 150 PE @ 6 - 7 Stoploss 4 Target 12 CMP 8.25

 

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