ONGC is ripe for a fall. Not that the company is doing bad or it is a bad investment choice, but the market is ripe for a correction and the index heavy weight will have to budge. ONGC will come down to three digits quote before a take off again.
ONGC is a gem of a stock to be held in every portfolio. But for the Government involvement in forcing ONGC to give huge subsidies to downstream refining companies, it would have a far higher valuation and would be very much in demand.
I bought ONGC almsot 4yrs back at same level. I got good dividend for 2yrs. After thatn i sold it and bought psu banks, small and big infra companies where my investment grown into 4-5 times. THank god i sold it and entered in banks, infra stocks.
I bought central bank, ROman tarmat, Maytas infra, HCC, GMR, Vijaya bank, uco bank. ONGC wealth never increases because of subsidy burden.
| NIFTY 
