GAIL, ONGC look attractive, says Sukhani

GAIL and ONGC are looking attractive, says Sudarshan Sukhani of s2analytics.com.
 
Sukhani told CNBC-TV18, “Oil and gas space is doing well. We have seen Oil and Natural Gas Corporation Limited (ONGC) bounce back from its support level at Rs 250 and it is now moving up towards Rs 290-300.”
 
He further added, “GAIL was in a bear market. That bear market is coming to an end. It has made a basing pattern, a head and shoulder bullish breakout and it is now moving up. So for GAIL the targets could be in terms of percentages much higher because it is coming down from a very low base. So, the priorities are GAIL, ONGC and Reliance.”
 
“We want Reliance to actually come back and cross Rs 880 at which point it goes into some kind of a new uncharted territory in the recent months. So Reliance is interesting once it does that. But till then GAIL and ONGC are both very attractive for buyers.”