Technical Analysis on Indian Stock Market

Oil and Natural Gas Corp gains 2 percent. * Dealers cite hopes of reforms on subsidies and gas prices ahead of ONGC's share sale. India plans to sell a stake in ONGC later this year. 

Reliance Communication is planning a debut U.S.dollar bond offering soon, sources aware of the situation said.Apart from the offshore bond sale, two qualified institutional placements are also on the top of the agenda of the group. These QIPs will come from utility companies - Reliance Power and Reliance Infrastructure, sources said.

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