ONGC - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.2
| Stock Code | ONGC | Market Cap | 3,33,252 Cr. | Current Price | 265 ₹ | High / Low | 293 ₹ |
| Stock P/E | 10.2 | Book Value | 267 ₹ | Dividend Yield | 4.62 % | ROCE | 14.8 % |
| ROE | 11.4 % | Face Value | 5.00 ₹ | DMA 50 | 264 ₹ | DMA 200 | 252 ₹ |
| Chg in FII Hold | 0.45 % | Chg in DII Hold | -0.27 % | PAT Qtr | 8,372 Cr. | PAT Prev Qtr | 9,848 Cr. |
| RSI | 45.8 | MACD | -0.05 | Volume | 90,27,484 | Avg Vol 1Wk | 1,79,20,811 |
| Low price | 205 ₹ | High price | 293 ₹ | PEG Ratio | -2.49 | Debt to equity | 0.10 |
| 52w Index | 67.9 % | Qtr Profit Var | 1.60 % | EPS | 26.0 ₹ | Industry PE | 23.3 |
📊 Chart & Trend Analysis: ONGC is trading at ₹265, slightly above its 50 DMA (₹264) and well above its 200 DMA (₹252), showing medium-term strength despite short-term consolidation. RSI at 45.8 suggests neutral momentum, not yet oversold. MACD at -0.05 is flat, indicating indecision. Bollinger Bands show price hovering near the mid-range, with support around ₹252–₹255 and resistance near ₹280–₹293.
📈 Momentum & Volume: Current volume (90,27,484) is significantly lower than the 1-week average (1,79,20,811), suggesting reduced trading activity. Momentum signals are muted, awaiting stronger participation for a breakout.
🔑 Entry & Exit Zones:
- Optimal Entry: ₹255–₹262 (near support)
- Resistance Levels: ₹280 (short-term), ₹293 (52-week high)
- Exit Zone: ₹280–₹290 if momentum strengthens
📌 Trend Status: The stock is currently consolidating with a neutral bias, holding above long-term support but lacking strong momentum signals.
Positive
- Strong fundamentals with ROCE at 14.8% and ROE at 11.4%.
- Dividend yield of 4.62% provides attractive income for investors.
- Low debt-to-equity ratio (0.10) ensures financial stability.
- EPS of ₹26.0 reflects solid earnings power.
Limitation
- Quarterly PAT declined to ₹8,372 Cr. vs ₹9,848 Cr. previously.
- PEG ratio (-2.49) indicates weak growth prospects relative to valuation.
- Volume trend is weakening compared to average, showing reduced momentum.
Company Negative News
- Quarterly profit decline may weigh on sentiment despite long-term strength.
- DII holding decreased (-0.27%), showing reduced domestic institutional confidence.
Company Positive News
- FII holding increased (+0.45%), signaling foreign investor interest.
- Strong dividend yield and low debt profile continue to attract long-term investors.
Industry
- Industry PE at 23.3 is higher than ONGC’s PE of 10.2, suggesting ONGC is undervalued relative to peers.
- Energy sector remains cyclical but supported by global demand recovery and commodity price trends.
Conclusion
⚖️ ONGC shows strong fundamentals with attractive dividend yield and undervaluation compared to industry peers. Technicals suggest consolidation with neutral momentum, but long-term trend remains intact above 200 DMA. A cautious entry around ₹255–₹262 may be considered with exit targets near ₹280–₹290 if volume and momentum improve. Long-term investors may find ONGC appealing for income and value positioning.
Would you like me to extend this into a sector basket overlay comparing ONGC against peers like Reliance, Oil India, and BPCL to highlight relative strength and margin-of-safety clarity?