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Oil and Natural Gas Corporation (ONGC)

By Sudarshan Sukhani 

Sunday, April 7, 2013

Sudarshan Sukhani of is of the view that one can buy Oil and Natural Gas Corporation (ONGC).

According to Sukhani, ONGC held out and has also got strong support at 300. He also said, 300 could hold and ONGC could lead and so many things can happen in the market. There is a buying opportunity here.

Oil and Natural Gas Corporation (ONGC) is an India-based company. The Company is mainly engaged in the oil exploration and production activities.
The Company operates in two segments: exploration and production and refining. As of March 31, 2012, the Company had made 23 discoveries in domestic fields; 15 new prospects and eight new pool discoveries. Out of the 15 new prospect discoveries 7 are in NELP blocks.

At present it is trading at 316.50. Its 52 week high is 355.00 and 52 week low has been 227.40.