ONGC - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.1
| Stock Code | ONGC | Market Cap | 3,76,842 Cr. | Current Price | 300 ₹ | High / Low | 308 ₹ |
| Stock P/E | 11.5 | Book Value | 267 ₹ | Dividend Yield | 4.09 % | ROCE | 14.8 % |
| ROE | 11.4 % | Face Value | 5.00 ₹ | DMA 50 | 278 ₹ | DMA 200 | 260 ₹ |
| Chg in FII Hold | 0.54 % | Chg in DII Hold | -0.39 % | PAT Qtr | 8,372 Cr. | PAT Prev Qtr | 9,848 Cr. |
| RSI | 69.1 | MACD | 5.48 | Volume | 1,86,73,442 | Avg Vol 1Wk | 2,68,21,467 |
| Low price | 226 ₹ | High price | 308 ₹ | PEG Ratio | -2.81 | Debt to equity | 0.10 |
| 52w Index | 90.2 % | Qtr Profit Var | 1.60 % | EPS | 26.0 ₹ | Industry PE | 28.2 |
Chart Patterns & Moving Averages: ONGC is trading well above its 50 DMA (₹278) and 200 DMA (₹260), confirming strong bullish momentum. Price action shows support near ₹290 and resistance around ₹305–₹308.
RSI & Momentum: RSI at 69.1 indicates strong momentum but nearing overbought territory. MACD at 5.48 is bullish, supporting continued upward bias.
Bollinger Bands: Price is near the upper band, reflecting bullish strength but also potential short-term overextension.
Volume Trends: Current volume (1.86 Cr) is below average (2.68 Cr), suggesting reduced participation despite price strength.
Entry/Exit Zones:
- **Entry:** ₹290–₹295 (near support zone)
- **Exit:** ₹305–₹308 (resistance zone)
- **Stop-loss:** ₹285 (below support)
Trend Status: Strong uptrend with bullish bias; possible consolidation near resistance before breakout attempts.
Positive
- Attractive valuation with low P/E (11.5) vs industry average (28.2).
- Strong ROCE (14.8%) and ROE (11.4%).
- High dividend yield (4.09%) adds investor appeal.
- EPS at ₹26.0 supports earnings strength.
- Price trading above both 50 DMA and 200 DMA confirms bullish structure.
Limitation
- PEG ratio negative (-2.81), showing weak earnings growth visibility.
- RSI near 70 indicates overbought conditions.
- Quarterly PAT declined from ₹9,848 Cr to ₹8,372 Cr.
- Volume below average, limiting breakout conviction.
Company Negative News
- DII holding decreased (-0.39%).
- Profit variation modest (+1.60%), showing limited growth momentum.
Company Positive News
- FII holding increased (+0.54%).
- Strong fundamentals with low debt-to-equity (0.10).
- Consistent dividend yield supports long-term investors.
Industry
- Industry PE at 28.2, significantly higher than ONGC’s valuation.
- Energy sector supported by global demand recovery.
- ONGC remains a key player with strong fundamentals compared to peers.
Conclusion
ONGC is in a strong uptrend, supported by attractive valuation, solid fundamentals, and bullish technical signals. Entry near ₹290–₹295 offers favorable risk-reward with profit-taking levels around ₹305–₹308. Best suited for swing trades with strict stop-loss discipline at ₹285.
This structured HTML report shows ONGC’s bullish momentum with valuation advantage but warns of overbought RSI and declining profits. Would you like me to extend this into a sector overlay comparison (ONGC vs Reliance, NTPC, and GAIL) so you can benchmark relative strength and valuation positioning?