Buy ONGC with an intraday target at Rs 235: Chandan Taparia

Chandan Taparia, Derivatives & Technical Analyst - Equity Research at Anand Rathi Financial Services has a buy rating on ONCG. The analyst expects the stock to jump to Rs 235 and has advised traders to keep a stop loss at Rs 215. The stock has climbed over 6 per cent in the five sessions to Tuesday. Yet, the stock is down 8 per cent year-to-date. At Rs 222.90, the stock is trading above its 100-day moving average of Rs 217.06.