ONGC - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.1
| Stock Code | ONGC | Market Cap | 3,19,928 Cr. | Current Price | 254 ₹ | High / Low | 278 ₹ |
| Stock P/E | 9.83 | Book Value | 267 ₹ | Dividend Yield | 4.82 % | ROCE | 14.8 % |
| ROE | 11.4 % | Face Value | 5.00 ₹ | DMA 50 | 245 ₹ | DMA 200 | 245 ₹ |
| Chg in FII Hold | 0.45 % | Chg in DII Hold | -0.27 % | PAT Qtr | 9,848 Cr. | PAT Prev Qtr | 8,024 Cr. |
| RSI | 55.1 | MACD | 6.18 | Volume | 1,80,71,994 | Avg Vol 1Wk | 3,85,11,873 |
| Low price | 205 ₹ | High price | 278 ₹ | PEG Ratio | -2.40 | Debt to equity | 0.10 |
| 52w Index | 67.7 % | Qtr Profit Var | -17.8 % | EPS | 25.9 ₹ | Industry PE | 19.0 |
📊 Chart & Trend Analysis: ONGC is trading at ₹254, slightly above its 50 DMA (₹245) and 200 DMA (₹245), showing medium-term strength. RSI at 55.1 indicates neutral momentum leaning bullish, while MACD (6.18) confirms positive crossover momentum. Bollinger Bands suggest price is moving toward the mid-to-upper band, signaling steady accumulation. Current volume (1,80,71,994) is lower than the 1-week average (3,85,11,873), showing reduced participation but stable price action.
📈 Momentum Signals: Short-term momentum is moderately bullish with RSI above 50 and MACD positive. Sustained price action above ₹250 strengthens the bullish bias. Watch for breakout attempts near ₹260–₹265.
💡 Entry Zone: ₹245–₹250 (support near DMA levels)
🚪 Exit Zone: ₹270–₹278 (resistance near 52-week high)
🔎 Trend Status: The stock is trending upward with bullish bias, supported by moving averages and positive momentum indicators.
Positive
- Strong quarterly PAT at ₹9,848 Cr. vs ₹8,024 Cr. previously.
- EPS at ₹25.9 reflects solid earnings power.
- Dividend yield of 4.82% provides attractive shareholder returns.
- ROCE (14.8%) and ROE (11.4%) indicate healthy efficiency.
- Debt-to-equity ratio at 0.10 shows very low leverage.
Limitation
- PEG ratio at -2.40 suggests weak growth-adjusted valuation.
- Quarterly profit variation at -17.8% indicates earnings volatility.
- Stock P/E at 9.83 is below industry average (19.0), reflecting cautious market sentiment despite strong fundamentals.
Company Negative News
- Decline in DII holding (-0.27%) signals reduced domestic institutional confidence.
- Quarterly profit contraction highlights near-term earnings pressure.
Company Positive News
- Increase in FII holding (+0.45%) shows foreign investor interest.
- Strong dividend yield supports investor sentiment.
Industry
- Industry PE at 19.0 is higher than ONGC’s, suggesting undervaluation relative to peers.
- Energy sector demand remains robust, supported by global oil and gas consumption trends.
Conclusion
⚖️ ONGC is trending upward with bullish bias, supported by positive MACD, RSI above 50, and price stability above DMA levels. Fundamentals remain strong with high dividend yield and low leverage. Traders may consider entry near ₹245–₹250 with exit targets around ₹270–₹278. Sustained breakout above ₹278 could open further upside momentum.
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