ONGC a good bet for Value Investors

Aug 7, 2022

ONGC is available at a value zone which is a supply turned demand zone for value investors. It can be a good bet but a risky one as it's a high beta so avoiding going in with all money should be preferred and accumulating it in a slowly and steadily manner. The recent price action is however still not so bullish so a confirmation candle will give you a headscarf to accumulate more with time and patience.
Fundamentally as well it has shown a great progress in terms of growth that is a steady increase in ROA, ROE, Growth, net margin, etc. which makes it suitable for investing.
Also it is a high dividend paying stock as well with an annual yield of 7.69%
Accumulating levels are around 120 and entry should be made in proportions.
Not a Financial Advice. Kindly do your own research! Thanks for reading.

Aug 7, 2022

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Comment: A contradictory thought that might appear in your mind must be that it broke the previous low recently and is getting into LH, LL structure but that break in my opinion is a weak one as there's not a proper breakdown and volumes were diminishing.
If you also find value in this stock then 25% accumulation can be done at current levels and more can be added steadily as soon as the price action improves.

Jul 21, 2023

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Update: This investment so far has been doing great for value investors. 170 is a crucial level

Aug 14, 2023

Trade closed: target reached