Oil and Natural Gas Corporation posts Q2 growth

Oil and Natural Gas Corporation rose 0.77% on 6 November 2026 after its standalone Q2 results. Profit grew 57.3%; Rs 235 is resistance and Rs 218 support. Oil and Natural Gas Corporation [ ONGC ] closed 0.77% higher on Friday, 6 November 2026, after reporting its Q2 standalone results. Profit rose 57.3% year on year to Rs 15,488.6 crore from Rs 9,848 crore. Revenue increased 32.8% year on year to Rs 43,875.2 crore from Rs 33,030.6 crore. Profit grew faster than revenue, showing stronger growth in the bottom line during the quarter. The share price ended in the green, but the supplied price move alone does not establish a change in the broader trend. The chart levels provided place resistance at Rs 235 and support at Rs 218. In my view, the trend remains bearish while the price stays below Rs 235. A move above Rs 235 with higher volume may bring a short-term trend reversal into focus. A fall below Rs 218 would weaken the setup. Watch how the price behaves around both levels and whether any move above resistance is accompanied by higher volume. A failure to clear Rs 235 would leave the bearish view intact. Stance: bearish while below Rs 235, with Rs 218 as the key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.