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5 Jun 2008

Unbiased report for Indian shares:ONGC

1. By virtue of increase in price of petroleum products by the government ONGC has a potential to touch the level of Rs 1050. However for that scenario to exist the stock has to move above its resistance level around Rs 970-975.

2. The stock presently enjoys support near Rs 940 and if this support for Indian stock is broken than the stock can fall to Rs 920.


3. Even financial brokerage house
Citi has also given a projection for this Indian oil giant PSU as rupees 1400.

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