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21 Dec 2008

ONGC trend analysis to make profit: 22 Dec -27 Dec

1.ONGC has a short term trend which is sideways and thus the stock has to move above the level of Rs 751 to keep the bullish trend intact. In case the stock is not able to move past the level of Rs 750 than it can fall to the level of Rs 640- Rs 615. Stock has a strong support at the level of RS 550.

2. As a strategy one can short the stock if share is not able to move past the level of Rs 750 . Presently trend for the stock is down and as a strategy for going long one can enter in this stock above the level of RS 810 as only than the trend will turn positive for the stock.

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