Welcome to the Indian Share Market
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Updated on 5 July 2009
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Oil marketing Companies

Oil prices have more than doubled from a low of 32.4 dollar a barrel in December last year (2008).
Oil prices were trading above 72 dollar last week.

The oil (petrol and diesel) prices have already increased in India.

Going further if the oil prices continue to fall then the stocks of the oil marketing companies are expected to move up.

The following are few oil marketing companies which are expected to move up.

ONGC
Current price - 1136, Target price - 1250.
Stock price went high till 1230. Still it is bullish


Hindustan Petroleum Ltd
Current price - 331, Target price - 360. Target Achieved on first week of August 2009.
Target achieved for second time. Again asked to buy on 12 Aug 09 at Rs 365 and the stock touched Rs 400 on 3 sept 09.


IOC
Current price - 562, Target price - 620.
Target Achieved on 3 sept 2009.



Following are the technical charts for above stocks

Some concerns

1.If oil prices increases then the stock prices of these companies will fall.

2.If government reduces oil prices then the stock prices of these companies will fall
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