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OIL AND NATURAL GAS CORP.

ONGC : Skewed premium of Puts - Nice sideways setup

  • Volatility (IVP) is very low in the stock
  • Zone of 235-240 seems strong support (reversal at high volumes)
  • On upside, 200D-EMA and Pivot of 270-275 is good resistance
  • Max Call OI build up at 270 / 265 levels too
  • Can be volatile but mostly sideways action for Feb Series
  • Trend strength is not there in either direction



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