ONGC - Technical Analysis

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

Technical Rating: 2.8

Here’s a detailed technical analysis of ONGC (Oil and Natural Gas Corporation Ltd.)

📉 Trend Overview

Status: Reversing from a prior uptrend

Price Action: Trading below both 50 DMA and 200 DMA — confirms bearish momentum

52W Index: At 26% of its 52-week high — deep correction underway

📈 Moving Averages

Indicator Value (₹) Signal

DMA 50 244 Bearish (Price < DMA)

DMA 200 249 Bearish (Price < DMA)

Price is ~1.2% below DMA 50 and ~3.2% below DMA 200 — confirms downtrend

📊 Momentum Indicators

Indicator Value Interpretation

RSI 44.7 Neutral to Bearish — no strong momentum

MACD -0.66 Bearish — negative crossover

Volume 66.67L Slightly below average — weak conviction

RSI below 45 suggests lack of buying strength

MACD is negative — momentum is weak

📊 Bollinger Bands

Price is near lower band, indicating selling pressure

No squeeze or breakout signals — supports bearish continuation

📌 Support & Resistance Zones

Level Price (₹) Strength

Support 1 235 Strong

Support 2 225 Moderate

Resistance 1 248 Moderate

Resistance 2 257 Strong

Entry Zone: ₹235–₹241 (if reversal confirmed)

Exit Zone: ₹248–₹257 (watch for rejection)

🔍 Short-Term Signals

RSI near 45: Neutral — wait for breakout above 50 for confirmation

MACD Negative: Avoid aggressive long positions

Volume Dip: Suggests caution — wait for confirmation

🧠 Summary

Trend: Bearish with reversal potential

Momentum: Weak

Volume: Below average

Volatility: Moderate

Entry: ₹235–₹241 (only if reversal confirmed)

Exit: ₹248–₹257

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