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As on 28th Dec 2021 ONGC Share Price closed @ 139.50 and we RECOMMEND Buy for LONG-TERM with Stoploss of 123.26 & Strong Sell for SHORT-TERM with Stoploss of 150.47 we also expect STOCK to react on Following IMPORTANT LEVELS.
ONGC is an upstream company and its profit depends on the crude oil prices. However, due to weakness in global growth, tepid industrial growth in China and the ongoing trade war between the US and China have dampened the spirits of the stock.
Originally Answered: Is it good to invest in ONGC? Yes it is good to invest in ongc. Ongc is a large cap company and is providing good dividend. The company has good fundamentals and will be a great choice to invest for long term.
Is it good time to buy ONGC?
Is ONGC stock giving a break-out?
As per analysis on chart patterns, ONGC has given a break-out. We can go short on it after confirmation. NSE:ONGC Stock taking support below and can be seen at a very good fibo level. If the price opens above the the trendline and takes support of the fibo level then we can look for the buying side for tomorrow.
What is your long term view on ONGC?
We have a long term view in ongc ,as you see in monthly chart it’s try to break trend line and a previous swing low …so we believe if its sustain above 125 then you can make a position for 180 and 220 rs target in next 2-3 years. Just broken the resitance and trying to sustain above it.
How will ONGC’s Oil and gas production impact its cost of production?
Given the fact that ONGC’s oil wells are very old, it is unlikely that it can reduce its cost of production beyond a level. In gas production the wells are new. But the gas pricing formula ensures that margins don’t go beyond a point. The realisation from gas would impact the company as prices have been revised downward from October.
Is ONGC ready to touch at least 125?
Right now, Brent Oil Futures are, well consolidating but when brent runs, ONGC is ready to touch at least 125 for the starters. Let’s see, I am a little biased because of few calls I am holding but overall pattern looks quite convincing, remember, yea stock bahut frustrate karata hai…..