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ONGC, Aban Offshore: Oil exploration stocks may rally further, charts show

Shares of oil exploration and production companies gained ground on Wednesday owing to a rise in crude oil prices. Oil prices gained for the fourth day on Wednesday, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. On Tuesday, oil prices rose about 4 per cent to touch the highest level since March. So far in November, both WTI futures and Brent crude futures have rallied nearly 30 per cent, each.  So, is the rally in these stocks sustainable? Take a look at what charts indicate. Oil & Natural Gas Corporation Ltd (ONGC): The counter is m.....

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