{"id":230111,"date":"2012-11-07T17:41:44","date_gmt":"2012-11-07T12:11:44","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=230111"},"modified":"2012-11-07T17:41:45","modified_gmt":"2012-11-07T12:11:45","slug":"analysis-ongc","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/11\/07\/analysis-ongc\/","title":{"rendered":"Analysis: ONGC"},"content":{"rendered":"<p>Today\u2019s pick is [stockquote]ONGC[\/stockquote]. The last year saw the stock trading in a 225 to 300 range and the stock was range-bound for the longest time since July. However, it broke-down the range a week ago. During the last three month period, the stock was <strong><font color=\"#ff0000\">-5%<\/font><\/strong> vs. the <strong>+8%<\/strong> of the Nifty.  <\/p>\n<p><a href=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image10.png\"><img loading=\"lazy\" decoding=\"async\" style=\"border-right-width: 0px;margin: 10px;padding-left: 0px;padding-right: 0px;border-top-width: 0px;border-bottom-width: 0px;border-left-width: 0px;padding-top: 0px\" border=\"0\" alt=\"image\" src=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image_thumb7.png\" width=\"602\" height=\"482\"><\/a>  <\/p>\n<p>Oscillators <a href=\"http:\/\/stockviz.biz\/index.php\/part-ix-relative-strength-index-rsi\/\">RSI<\/a> and <a href=\"http:\/\/stockviz.biz\/index.php\/technical-trading\/chande-momentum-oscillator\/\">CMO<\/a> are currently at 36 and -56 and are close to the <strong>over-sold<\/strong> territory.  <\/p>\n<p><a href=\"http:\/\/stockviz.biz\/index.php\/part-xi-moving-average-convergence-divergence-macd2\/\">MACD<\/a> line and the signal line are at distant but the <a href=\"http:\/\/en.wikipedia.org\/wiki\/Histogram\">histogram<\/a> levels are steady \u2013 this can be the early sign of a <strong>short-term up-trend<\/strong>.  <\/p>\n<p>The <a href=\"http:\/\/stockviz.biz\/index.php\/technical-trading\/guppy-multiple-moving-averages\/\">GMMA<\/a> chart is not giving any signal as both long-term and short-term lines are tightly packed.  <\/p>\n<p><a href=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image11.png\"><img loading=\"lazy\" decoding=\"async\" style=\"border-right-width: 0px;margin: 10px;padding-left: 0px;padding-right: 0px;border-top-width: 0px;border-bottom-width: 0px;border-left-width: 0px;padding-top: 0px\" border=\"0\" alt=\"image\" src=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image_thumb8.png\" width=\"626\" height=\"210\"><\/a>  <\/p>\n<p>ONGC\u2019s average <a href=\"http:\/\/stockviz.biz\/index.php\/tag\/correlation\/\">correlation<\/a> of 0.51 with the <a href=\"http:\/\/stockviz.biz\/Technicals.aspx?INDEX=NIFTY\">Nifty<\/a> is positive. The stock will not replicate the movements of Nifty closely. [stockquote]NIFTYBEES[\/stockquote]  <\/p>\n<p><a href=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image12.png\"><img loading=\"lazy\" decoding=\"async\" style=\"border-right-width: 0px;padding-left: 0px;padding-right: 0px;border-top-width: 0px;border-bottom-width: 0px;border-left-width: 0px;padding-top: 0px\" border=\"0\" alt=\"image\" src=\"http:\/\/stockviz.biz\/wp-content\/uploads\/2012\/11\/image_thumb9.png\" width=\"626\" height=\"210\"><\/a>  <\/p>\n<p>ONGC had a historical <a href=\"http:\/\/stockviz.biz\/index.php\/2012\/07\/17\/understanding-volatility-part-i\/\">volatility<\/a> in the range of 0.3 to 0.7. Current high volatility can be attributed to the Emkay disaster.  <\/p>\n<p>The decline in the price can also be attributed to the withdrawal of the much awaited FPO issue for the stock. With the stock trading at a <strong><font color=\"#ff0000\">12%<\/font><\/strong> discount to where <a href=\"http:\/\/businesstoday.intoday.in\/story\/lic-shelled-out-rs-12000-crore-to-bail-out-ongc\/1\/22887.html\">LIC bailed it out in March<\/a>, it looks like its not so <em><a href=\"http:\/\/www.youtube.com\/watch?v=ZJwwVIbjAmc\">nirmal anand<\/a> <\/em>after all.  <\/p>\n<p>Looking at these technicals a <b>short-term buy <\/b>is suggested if the stock picks up from the 260 support levels. Although for the <strong>long-term,<\/strong> a decisive breakout from the current trading range will suggest a direction.  <\/p>\n<div class=\"zemanta-related\">\n<h6 style=\"font-size: 1em\" class=\"zemanta-related-title\">Related articles<\/h6>\n<ul class=\"zemanta-article-ul\">\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/panchabuta.com\/2012\/10\/09\/ongc-to-drill-for-hot-water-in-cambay\/\">ONGC to drill for hot water in Cambay<\/a> (panchabuta.com)\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/news.in.msn.com\/business\/article.aspx?cp-documentid=251284709\">ONGC finalises Rs 8,000-cr surface facility revamping prog<\/a> (news.in.msn.com)\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/www.yourmoneysite.com\/news\/2012\/oct\/lic-cut-its-holding-by-1-billion-in-15-sensex-firms-in-q2.html\">LIC cut its holding by $1 billion in 15 Sensex firms in Q2 &#8211; Bloomberg UTV<\/a> (yourmoneysite.com)\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/stockviz.biz\/index.php\/2012\/10\/29\/analysis-raymond\/\">Analysis: RAYMOND<\/a> (stockviz.biz)<\/li>\n<\/ul>\n<\/div>\n<div style=\"margin-top: 10px;height: 15px\" class=\"zemanta-pixie\"><a class=\"zemanta-pixie-a\" title=\"Enhanced by Zemanta\" href=\"http:\/\/www.zemanta.com\/?px\"><img decoding=\"async\" style=\"border-bottom-style: none;border-left-style: none;border-top-style: none;float: right;border-right-style: none\" class=\"zemanta-pixie-img\" alt=\"Enhanced by Zemanta\" src=\"http:\/\/img.zemanta.com\/zemified_g.png?x-id=dd035ac7-f84e-44d2-a85f-63d4567db190\"><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s pick is [stockquote]ONGC[\/stockquote]. The last year saw the stock trading in a 225 to 300 range and the stock was range-bound for the longest time since July. However, it broke-down the range a week ago. During the last three month period, the stock was -5% vs. the +8% of the Nifty. Oscillators RSI and &hellip; <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[982,197,815],"class_list":["post-230111","post","type-post","status-publish","format-standard","hentry","category-your-money","tag-niftybees","tag-ongc","tag-technical-analysis","entry"],"_links":{"self":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/230111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/comments?post=230111"}],"version-history":[{"count":0,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/230111\/revisions"}],"wp:attachment":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media?parent=230111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/categories?post=230111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/tags?post=230111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}