ONGC : Skewed premium of Puts - Nice sideways setup

• Volatility (IVP) is very low in the stock
  
• Zone of 235-240 seems strong support (reversal at high volumes)
  
• On upside, 200D-EMA and Pivot of 270-275 is good resistance
  
• Max Call OI build up at 270 / 265 levels too
  
• Can be volatile but mostly sideways action for Feb Series
  
• Trend strength is not there in either direction
  

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