Strong support is placed at 23,300 which we expect to hold as it is the confluence of 61.80% retracement of the June-September rally (21,281-26,277) coinciding with the 52-week EMA at 23,350. Buying on dips in quality stocks would be the prudent strategy.
ONGC picks BP as tech partner for Western Offshore fields
BP already has a similar arrangement for ONGC’s flagship Mumbai High fields, but the latest move significantly expands its role, making it responsible for helping