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Lokeshwarri S. K.

Two-doji candles formed last week with long upper shadows indicate lack of strength, in the short term. If the stock fails to rise above Rs 960 next week, it can slide lower to Rs 886 and then Rs 854. Short-term investors can continue to hold the stock with a tight stop at Rs 890.

The medium-term outlook for ONGC is positive. This bullish outlook with be fortified if the stock sustains above Rs 900. Investors with a longer timeframe can buy around Rs 875 or Rs 850.

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