ONGC can go upto Rs 310-315, says Rakesh Gandhi, Senior Tech Analyst, LKP.
Gandhi told CNBC-TV18, "I would not like to trade in stocks which are already beaten up but the stocks which are already showing good momentum, I would like to enter that because we have seen that market is very stock specific and as and when there is good momentum seen those stocks only move. Last time also we had discussion about Lovable Lingerie and that stock has moved quite a bit from the last one week and currently trading at Rs 502."
He further added, "Similarly good move is seen in ONGC and if the stock sustains Rs 285 level then I believe the stock would go upto Rs 310-315. Another stock which looks good is Petronet LNG. It has also given a good upward momentum based on some good chartical formation. It could go upto Rs 190-195 level. So that is one stock one needs to watch." Disclosure: I do not have any personal position.
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