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28 Dec 2008

Indian Oil exploration stock latest Tip: ONGC: 29 Dec- 02 Jan 2009

1. ONGC has a key resistance at the level of Rs 641 which is its 50 DMA. It has a support at the levels of Rs 614 and if this level is broken than one can see the level of Rs 540 in the stock.

2. However stock has a support at the levels of Rs 550 and Rs 600 and one can use this band to buy this quality Indian stock for long term investment. ONGC is a stock which has got Navratna status as a PSU which speaks of its efficiency and is on the expansion spree across the continents.

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