ONGC - Short

3 בדצמ׳ 2022

Oil Stocks rallied in the past few days mainly due to the fall in international crude prices. This will in turn increase the profitability of the Oil Companies. But this scenario won't exist for long. The oil price will rise within a few weeks and the domestic oil price will not increase accordingly due to multiple factors like preventing inflation and the upcoming state election in the next year. So the oil companies' profitability will again take a hit and can expect a crash soon.