ONGC : What is Suitable Time to Buy?

Oil and Natural Gas Corporation (ONGC) is a state-owned oil and gas company in India. It was founded in 1956 and is headquartered in Dehradun, Uttarakhand. ONGC is one of the largest oil and gas exploration and production companies in the world, and is also involved in refining, marketing, and transportation of petroleum products.

The company has a strong presence in the domestic market and also has overseas assets in countries such as Russia, Vietnam, and Egypt. ONGC is the largest oil and gas exploration and production company in India and accounts for around 75% of the country's domestic oil and gas production.

In terms of financial performance, ONGC has reported steady revenue and profit growth in recent years. However, the company has also faced challenges such as high capital expenditure, high debt levels and fluctuation in crude oil prices.

It is important to note that it's always recommended to do your own research and due diligence before making any investment decisions. Make sure you have a good understanding of the company, its industry and its financial performance. Additionally, it's always a good idea to consult with a financial professional before making any investment decisions.

Oil & Natural Gas Corporation Limited is in a rising trend channel in the medium long term. 

Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. It also gave positive signal from the double bottom formation at the break up through the resistance at 140. 

Further rise to 158 or more is signaled. The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range.

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The stock has support at rupee 140 and resistance at rupee 163. The stock is overall assessed as technically positive for the medium long term.