BUY ONGC at CMP : 162
First Target : 170
Second Target : 180
Why Buy ONGC ?
As we observed on Daily technical chart Nifty 50 started fall from top on 2nd-Aug-2017 at 10137.85 levels and got support at 9710.80 levels on closing basis as on 11th-Aug-2017. From 2nd-Aug-2017 to 11th-Aug-2017 Nifty 50 corrected -370.70 points means -3.68% correction from top. After got support at 9710.80 levels Nifty 50 got recover to 9916.20 levels on closing basis as on 6th-Sep-2017. Nifty 50 recovered +205.40 point (+2.16%) as on 6th-Sep-2017.
Where as Oil & Gas Sector Index performed very strong. At the time of Nifty 50 correction mode Oil & Gas sector index moved up side by +0.88% and when Nifty 50 got recovered that time Oil & Gas sector index gives +6.06% Up side movement.
Above give the indication that Oil & Gas sector is perform strongly in the compare of Nifty 50.
So we are completely on Oil & Gas sector for investment. Investor and trader can choose this sector for safe side.
Other Stocks in Oil & Gas sector can be watch for investment. We are suggesting some stocks for investment in Oil & Gas Sector they are:-
5. OIL INDIA
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