Tuesday, October 12, 2010

OIL AND GAS SECTOR Technical View 13'Oct'2010


ESSAR OIL

Technical View

Essar oil is having support at 130 levels and may now hit 135-130 in near term if it continues to trade below 142 levels, so selling on rise will be good strategy.

INDIAN OIL CORPORATION

Technical View

IOC is looking weak on charts and has closed near the lower trend line and now it may hit 400-390, if it closes below 408, so selling on rise will be good strategy.

ABAN OFFSHORE

Technical View

Aban offshore has support near 850 levels, if it trades below 850 levels then we may see more downside in it, so selling on rise will be good strategy, till it stays below 900.

GAIL INDIA

Technical View

Gail india is looking strong on charts and has closed above the upper trend line and now it may hit 510-520, so buying on dips will be good strategy.

ONGC

Technical View

Ongc is looking weak on charts and has closed below the lower trend line and now it may hit 1340-1320, if it stay below 1400, so selling on rise will be good strategy.

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