One of the few stocks in our markets with SUPER DUPER fundamental tailwinds. Crude prices have broken above $100. ONGC will gain a windfall profit. ALso on 1st April Natural gas prices will get revised making ONGC an EBITDA gain of Rs 5000cr per $1 increase in those gas prices.
The plan is to start accumulating the stock if it bounces somewhere between 148/153 or closer to the 200EMA around 143.
Might start at 148/150 which is a fibo + trendline support and avg downwards if it continues to fall..
This stock could be an out performer + give MASSIVE dividends every quarter going forward.
The only caution is govt pushing subsidies on upstream companies (Petrobonds is something this govt has been against in the past)
The plan is to start accumulating the stock if it bounces somewhere between 148/153 or closer to the 200EMA around 143.
Might start at 148/150 which is a fibo + trendline support and avg downwards if it continues to fall..
This stock could be an out performer + give MASSIVE dividends every quarter going forward.
The only caution is govt pushing subsidies on upstream companies (Petrobonds is something this govt has been against in the past)