ONGC is currently trading near a very important support zone

ONGC is currently trading near a very important support zone around ₹230–₹232, so the probability of a short-term support reaction is meaningful. ₹230–₹232: Major horizontal support, tested multiple times previously. The price is currently around ₹231.80, almost exactly at this support. Previous reactions from this level show that buyers have stepped in around this zone. A bullish reversal candle with volume near ₹230–₹232 would strengthen the possibility of a bounce. If support holds, the first recovery levels could be around ₹240–₹250. However, a decisive daily close below ₹230, especially with strong volume, would invalidate the support and could open further downside. Overall: ₹230–₹232 is a highly important demand/support zone, but support should be confirmed by price action rather than assuming a bounce merely because the price has reached the level.