Monday 10 November 2008

Take long position in ONGC: Madan

Ashu Madan, National Head of Religare is of the view that the risk reward would be much in favour of taking a long position in ONGC.

Madan told CNBC-TV18, "The major subsidy burden is already taken into stride in the first half considering the crude oil prices have fallen sharply the realizations will be much better. On top of that there has been a sharp correction in the stock price also. So it is a kind of not even a hold or buy from my side that at every sell off or every correction. If somebody is holding it or somebody wants to initiate a long position, the risk reward would be much in favour of taking a long position in ONGC."

Source: Moneycontrol

Posted by Harsh at 07:36

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