Accumulate ONGC on dips: Kulkarni

Accumulate ONGC on dips, says Shardul Kulkarni, Sr Technical Analyst, Angel Broking.

Kulkarni told CNBC-TV18, "ONGC as a stock has actually given a very strong channel break out. A downwards sloping channel has been broken out on the upside and we would expect the stock to move significantly higher from current levels." He further added, "The volume is a little bit of a concern but overall I would say that the chart pattern does look quite bullish. Any dip should be used to accumulate into ONGC. The stock to probably move to around Rs 325 to Rs 330 over the next couple of trading sessions." Disclosure: It is possible that we have exposure in certain stocks and we have recommended them to our clients.