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.
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.
Comment:
Update: This investment so far has been doing great for value investors. 170 is a crucial level
Trade closed: target reached
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.