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Aug 09, 2012, 05.04 PM IST
IIFL is bullish on ONGC and has recommended buy rating on the stock with a target of Rs 289 in its August 9, 2012 research report.
IIFL is bullish on ONGC and has recommended buy rating on the stock with a target of Rs 289 in its August 9, 2012 research report.
“Oil and Natural Gas Corporation (ONGC) has been moving on rectangular trading band between Rs277-288 in past four weeks. The stock is already trading with golden crossover which means 50 DMA crossing above 200 DMA with prices forming higher bottom. The daily RSI has been forming good base above 50 levels which confirms strength in the counter. We recommend buying ONGC below Rs277 with stop loss of Rs271 for Target of Rs289.(Duration 7 days),” says IIFL research report. Shares held by Financial Institutions/Banks Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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