Buy ONGC, advises Dipesh Mehta

Dipesh Mehta of Nirmal Bang Securities told CNBC-TV18, "The short term and the medium term charts in Oil and Natural Gas Corporation (ONGC) are in a very negative zone. But from traders perspective I would recommend them to buy for a week's point of view. I think around 7-8 percent upside can be seen and those might be the levels where people can actually take a call of again shorting the stock."

The company's trailing 12-month (TTM) EPS was at Rs 22.12 per share. (Jun, 2013). The stock's price-to-earnings (P/E) ratio was 11.02. The latest book value of the company is Rs 156.49 per share. At current value, the price-to-book value of the company was 1.56. The dividend yield of the company was 4 percent. Disclosure: My clients might have some positions in the stock discussed.