Oil India Opened at 430+ and had it 423 in first hour of trade as said.
ONGC on the other hand had reached buying levels of 276 and peaked to 281.
Oil India can be bought into at lower levels 418-422 for a target of 450.
ONGC on other hand is a buy for a target for an excess of 300.
Petronet LNG had opened at 383 and also tested 383 at 0930 hours reaching strong selling zone.
Stock has hit the target of 373 during trade. While GAIL has not moved. It provided a buying opportunity at 408.
Hold/Buy GAIL for a target of 450.
Petronet LNG can move towards 395 in coming trading sessions.
Power grid had gap up opening compared to NTPC presenting a strong sell to Powergrid which was sold into for 2% profits. NTPC has rallied today in trade to 160.8. It has presented a strong sell close to 164 levels. It has also provided a strong buy opportunity to Powergrid at 182.
Buy Powergrid at 180.8 Closed at 182.
Sell NTPC at 156.7 Closed at 158.5
One should hold on to buy position to Powergrid for a target of 186 and buy on dips to 180-181.
NTPC should be sold at levels close to 162-164 for a target of 155.
On Medium term both stocks are moving up.
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