Technical Analyst, Rajat K Bose is of the view that chart patterns suggest above Rs 1260, Oil and Natural Gas Corporation, ONGC can touch Rs 1300 in the short-term. He added that ONGC had a very good move today but this kind of a move of 3-4% in a day is not carried forward the very subsequent day.
Bose told CNBC-TV18, "Bharti has actually posted a breakout, it has been consolidating between Rs 850 and Rs 950 for quite a while. Rs 1,040 is a very crucial level for this stock. Once it stays above that decisively then one can expect it to move upto Rs 1,100 and it can even go beyond that if the momentum is sustained."
He further added, "ONGC has a very good move today. This kind of a move of 3-4% in a day is not carried forward the very subsequent day. But overall definitely ONGC chart pattern suggest that if we get pass for about Rs 1,260 then more than Rs 1,300 levels would be seen in the short-term and that of course occurs well for the Nifty because they are heavy weights for the index."
ICIC
Source: Moneycontrol.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment