ONGC to move up from current levels: Somil Mehta, Sharekhan

Somil Mehta, Sr Technical Analyst, Sharekhan, in a chat with ET Now talks about ONGC.

Can ONGC move up from here?

Absolutely, it has formed a five-wave rally. Now on the daily charts, it has also retraced 23% of the whole rise and we are just waiting for the high to take off and it will be rallying for at least 10-15% from these levels.