Buy ONGC on dips: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that one can buy ONGC on dip.

Sukhani told CNBC-TV18, "ONGC has been a favorite. When it was at Rs 800 I suggested buying; it shouldn’t go below Rs 700. There is no relative strength now. Like most other stocks has reached its resistance levels, that Rs 1,000 band is likely to be resistance for ONGC. I do not think it’s a buying opportunity at current levels. It’s probably a time to take profits. But if and when it dips again buy that stock that’s something one needs to buy every time; don’t short sell. Cairn at Rs 215-220 is now a buying opportunity. I own shares in Cairn."