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14 Dec 2008

Is ONGC worth investment? Tech analysis: 15 Dec- 20 Dec

1. ONGC is seeing a decline and thus one can say that short-term trend in ONGC is currently sideways between Rs 640 and Rs 700. However if stock kept the downward trend than the stock can touch the level of Rs 615 - Rs 533. However Rs 570 and Rs 600 are its strong supports from where it can show a bounce back. One can continue to read to know the level where one should enter the stock as an investment.

2. One can enter this stock for long term only once it starts trading above the level of Rs 750. However stock is witnessing a downward trend in the coming weeks.

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