ONGC, The Maharatna with second largest MARKET CAP in PSE, is trading at good valuation. Our strategy for trading it as follows:-
Enter ONGC at CMP: 100
Short term target 112.5 (within 5-8 trading sessions) 12.5%
Long term target 130 (within 2 months)
The SL can be placed at 89.5
HDFCBANK has shown small rejections at its weekly support trend line. If it moves upwards it can be traded for 1069, as 1069-1079 is area of strong monthly resistance.
If HDFCBANK falls below 1025 comfortably, it will retest 975.
So keep close watch and follow the strategy as follows:-
In case of upward move:
Intraday traders/Short term traders can...