ONGC - IntraDay Trade Analysis

Last Updated Time : 02 Aug 25, 12:58 am

IntraDay Trade Rating: 3.1

⚙️ Intraday Trading Analysis for ONGC

ONGC presents a neutral-to-cautious setup for intraday trading today. While the stock is fundamentally strong and offers high liquidity, technical indicators suggest limited momentum and a lack of clear direction.

✅ Supportive Factors

P/E (8.36) < Industry PE (11.6): Undervalued.

Dividend Yield (5.07%): Attractive for income-focused traders.

EPS ₹28.8 & Book Value ₹273: Strong intrinsic value.

Volume (66.6L) ≈ Avg Vol (68.5L): High liquidity.

Price near 50-DMA (₹244): Possible support zone.

❌ Bearish/Neutral Indicators

RSI (44.7): Below neutral — no momentum yet.

MACD (-0.66): Mild bearish crossover.

Price < 50-DMA & 200-DMA: Short-term weakness.

Qtr Profit Var (-34%): Significant earnings decline.

FII & DII Holding ↓: Mild institutional outflow.

PEG Ratio (-1.03): Negative — implies earnings contraction.

🔹 Intraday Strategy

📌 If Entering Fresh Today

Optimal Buy Price: ₹238–₹240 (on dip near support)

Profit-Taking Levels

Target 1: ₹245 (near 50-DMA resistance)

Target 2: ₹248 (if volume and RSI improve)

Stop-Loss: ₹235 (below recent support)

📌 If Already Holding Today

Exit Triggers

RSI fails to cross 47–50 by midday

MACD continues negative slope

Price fails to reclaim ₹243–₹245 zone

Volume drops below 50L by mid-session

🧠 Final Thoughts

ONGC is not a high-conviction intraday trade today. It’s liquid and undervalued, but lacks momentum and technical strength. If you're holding, consider exiting near resistance unless indicators turn bullish. Better suited for swing or positional trades.

Would you like to scan for energy sector stocks with stronger intraday momentum and breakout setups?

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